Dec. 10 at 4:20 AM
Actionable Trade Alert for
$ALK:
Market Context:
$ALK is currently trading at
$49.54, significantly above its 30-day moving average (MA30) of
$42.46 and 50-day moving average (MA50) of
$44.7. The RSI is at 86.05, indicating overbought conditions, which suggests a potential pullback or consolidation.
Directional Bias: Given the high RSI and proximity to the 60-day high of
$60.03, we anticipate a short-term correction before any further upward movement.
Trade Plan:
- Suggested Entry:
$49.54 (current price)
- Stop Loss:
$46.00 (below recent support)
- Take Profit Targets:
- Target 1:
$52.00 (10% gain)
- Target 2:
$55.00 (11% gain)
- Target 3:
$58.00 (17% gain)
The targets align with resistance levels and the potential for a retracement. Monitor the trade closely due to the high RSI, which may indicate a reversal.
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