Dec. 9 at 12:50 AM
Actionable Trade Alert for
$ALRM:
Market Context:
$ALRM is currently trading at
$52.23, showing strong momentum but with an RSI of 70.52, indicating it may be overbought. The stock is above both the 30-day MA (50.26) and the 50-day MA (50.68), suggesting a bullish trend. However, caution is warranted due to the high RSI.
Directional Bias: The recent price action is near the 60-day high of
$56.61, which could act as a resistance level. The low of
$46.65 provides a solid support zone. Given the current price and technical indicators, a short-term bullish bias is maintained, but with a watchful eye on potential pullbacks.
Trade Plan:
- Suggested Entry:
$52.50
- Stop Loss:
$50.50 (1.73% risk)
- Take Profit Targets:
1.
$54.00 (Target 1: 2.85% ROI)
2.
$55.00 (Target 2: 4.76% ROI)
3.
$61.00 (Target 3: 16.77% ROI)
This plan provides a solid risk-reward ratio while aiming for a minimum of 17% ROI on the final target.
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