Dec. 10 at 2:40 AM
Actionable Trade Alert for
$ADP
Market Context:
$ADP closed at
$258.23, showing strength but is approaching overbought conditions with an RSI of 64.39. The 30-day moving average (MA30) at
$256.57 indicates short-term support, while the 50-day moving average (MA50) at
$268.37 suggests potential resistance ahead.
Directional Bias: The current price is above the MA30, indicating bullish momentum. However, the RSI nearing 70 signals caution as it may lead to a pullback. The 60-day high of
$294.46 provides a target for upside potential, while the low of
$247.18 offers a reference for downside risk.
Trade Plan:
- Suggested Entry:
$258.50
- Stop Loss:
$254.00 (approx. 1.7% risk)
- Take Profit Targets:
1.
$270.00 (Target 1, 4.5% ROI)
2.
$280.00 (Target 2, 8.4% ROI)
3.
$302.00 (Target 3, 17% ROI)
This plan offers a solid risk-reward ratio with potential for significant returns.
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