Dec. 8 at 10:34 PM
$AEP is currently trading at
$116.79, with an RSI of 24.74 indicating it is oversold, suggesting potential for a bullish reversal. The price is below both the 30-day MA of
$120.61 and the 50-day MA of
$118.81, reinforcing a bearish trend. However, the extreme RSI level signals a possible short-term rebound.
Market context shows a recent 60-day high of
$124.8 and a low of
$105.7, indicating a range-bound environment. Given the ATR of
$1.96, we can anticipate volatility.
Actionable Trade Plan:
- Suggested Entry:
$116.79
- Stop Loss:
$112.00 (approximately 4.8% risk)
- Take Profit Targets:
1.
$120.00 (2.9% gain)
2.
$123.00 (5.3% gain)
3.
$137.00 (17.3% gain)
This plan offers a potential ROI of over 17% on the third target while managing risk effectively. Monitor price action closely for confirmation of the reversal.
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