Dec. 6 at 1:22 AM
Actionable Trade Alert for
$ABT:
Market Context:
$ABT is currently trading at
$125.4, with an RSI of 39.53 indicating it is nearing oversold conditions. The stock is below its 30-day (126.76) and 50-day (128.8) moving averages, suggesting bearish momentum. However, the proximity to the 60-day low of 122.1 presents a potential reversal opportunity.
Directional Bias: Given the RSI and the recent price action, we anticipate a bullish reversal. The stock has room to move toward its recent high of 137.49, making this a favorable setup.
Trade Plan:
- Suggested Entry:
$125.4
- Stop Loss:
$122.1 (below the 60D low)
- Take Profit Targets:
1. TP1:
$128.0 (2.1% gain)
2. TP2:
$132.0 (5.3% gain)
3. TP3:
$147.0 (17.2% gain)
This plan offers a solid risk-reward ratio with potential for over 17% ROI on the third target. Monitor closely for price action around the targets.
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