Dec. 6 at 2:46 AM
Actionable Trade Alert for
$AMG:
Market Context:
$AMG is currently trading at
$271.69, showing bullish momentum with an RSI of 66.98, indicating it is nearing overbought territory. The stock is above its 30-day MA of
$255.49 and 50-day MA of
$248.63, suggesting a strong upward trend. The recent 60-day high of
$276.4 offers a key resistance level, while the low of
$230.1 provides support.
Directional Bias: The bullish trend is supported by the price being above key moving averages, and the RSI indicates potential for further gains before a pullback.
Trade Plan:
- Suggested Entry:
$272.50
- Stop Loss:
$263.00 (approx. 3.5% below entry)
- Take Profit Targets:
1.
$278.00 (Target 1, approx. 2% gain)
2.
$284.00 (Target 2, approx. 4.2% gain)
3.
$318.00 (Target 3, approx. 17% gain)
This plan allows for a solid risk-reward ratio with a potential ROI exceeding 17% at Target 3.
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