Dec. 8 at 10:26 PM
Actionable Trade Alert for
$ADI:
Market Context:
$ADI is currently trading at
$279.88, showing strong bullish momentum as indicated by the RSI of 86.34, suggesting it's overbought. The price is also above the 30-day (MA30) and 50-day (MA50) moving averages, which are at
$244.82 and
$242.85 respectively. The recent 60-day high of
$283.24 indicates a resistance level to watch.
Directional Bias: Given the high RSI and proximity to the 60D high, a cautious bullish approach is advised. The potential for a pullback exists, but if momentum continues, we can target higher levels.
Trade Plan:
- Suggested Entry:
$279.88
- Stop Loss:
$270.00 (approximately 3.5% below entry)
- Take Profit Targets:
1.
$285.00 (Target 1, 1.5% ROI)
2.
$290.00 (Target 2, 3.6% ROI)
3.
$327.00 (Target 3, 17% ROI)
Monitor price action closely, especially around the 60D high.
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