Dec. 19 at 5:45 PM
$ABM Actionable Trade Alert:
Market Context:
$ABM closed at
$43.47, sitting near its 30-day moving average (MA30) of
$43.46, indicating a neutral position. The RSI of 51.62 suggests no immediate overbought or oversold conditions, allowing for potential upward movement. The 60-day high of
$50.12 shows room for growth, while the low of
$40.00 provides a solid support level.
Directional Bias: The proximity of the current price to MA30 and the neutral RSI indicates a potential bullish bias, especially if it can break above the MA50 at
$43.92.
Trade Plan:
- Suggested Entry:
$43.50
- Stop Loss:
$40.00 (approximately 8% risk)
- Take Profit Targets:
1.
$46.00 (10% ROI)
2.
$48.00 (10.5% ROI)
3.
$51.00 (17.3% ROI)
This plan allows for a balanced risk-reward ratio while targeting significant price levels. Monitor for breakout confirmation above MA50 for added conviction.
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