Nov. 13 at 1:43 AM
$ZBH trade plan:
Market context shows a recent close at
$88.65, significantly below both the 30-day moving average (MA30) of
$98.22 and the 50-day moving average (MA50) of
$99.47, indicating a bearish trend. The RSI at 21.06 suggests that the stock is oversold, which could lead to a potential reversal or a short-term bounce. The 60-day high of
$108.29 and low of
$85.33 further highlight the current price's proximity to the lower end of this range, suggesting limited downside risk.
Directional bias is bearish in the long term but may see a corrective bounce in the short term due to the oversold RSI condition.
Suggested entry:
$89.00 (slightly above last close).
Stop:
$86.50 (below recent low).
Targets:
$92.00 (near MA30) and
$95.00 (psychological resistance).
Monitor for volatility with an ATR of 3.54, which could influence the stop placement.
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