Dec. 12 at 12:24 AM
Actionable Trade Alert for
$AKRO:
Market Context:
$AKRO is currently trading at
$54.65, showing strong momentum with an RSI of 69.05, indicating it is nearing overbought territory. The stock is above its 30-day MA of
$54.29 and 50-day MA of
$53.06, suggesting bullish sentiment. The recent 60-day high of
$54.83 is just above the current price, providing a potential resistance level.
Directional Bias: Given the current price is near the 60-day high, we anticipate a breakout or pullback. The RSI indicates strength, but caution is warranted due to its elevated level.
Trade Plan:
- Suggested Entry:
$54.70 (slightly above current close to capture momentum)
- Stop Loss:
$53.50 (to limit downside risk)
- Take Profit Targets:
1.
$55.50 (1.5% gain)
2.
$56.50 (3.5% gain)
3.
$64.00 (17% gain)
This plan allows for a favorable risk-reward ratio, targeting significant upside while managing risk effectively.
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