Nov. 13 at 1:45 AM
$WWD is currently trading at
$269.17, showing a strong upward momentum with an RSI of 71.24, indicating it is in overbought territory. The price is above both the 30-day moving average (MA30) of 258.18 and the 50-day moving average (MA50) of 251.55, suggesting bullish sentiment. However, the RSI indicates potential for a pullback, especially as it approaches the 60-day high of 272.13.
For a trade plan, consider entering a short position if the price breaks below the MA30 at
$258.18, with a stop loss set at
$272.50 to manage risk. Target 1 could be the 60-day low of
$233.31, and Target 2 could be the MA50 at
$251.55.
Alternatively, if the price holds above the MA30, a long position could be entered at
$270 with a stop at
$265 and targets at
$272.13 and
$275.
Monitor the price action closely given the high RSI.
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