Support: $58.46 (recent low, indicating buyers stepping in). Resistance: $60.01 and $60.88 (near-term targets and resistance zones). Volume: Moderate at 20.856K, indicating steady market activity. Strategy for Long Position:
Entry Point: Consider entering around the current price ($58.89) if there is confirmation of support at $58.46 holding. Stop Loss: Place a stop loss just below $58.46 to limit downside risk. Take Profit Targets: First Target: $60.01 (EMA 30 resistance level). Second Target: $60.88 (EMA 60 resistance level). Risk-Reward Ratio: Ensure a minimum risk-reward ratio of 1:2 for this trade. Confirmation: Look for:
Increased buying volume at the current level. Bullish candlestick patterns or a crossover of EMA (10) over EMA (30).