Dec. 6 at 2:16 AM
Actionable Trade Alert for
$AMH:
Market Context:
$AMH is currently trading at
$30.91, showing bearish momentum as indicated by an RSI of 38.39, which suggests it is nearing oversold conditions. The stock is below both the 30-day MA (32.07) and the 50-day MA (32.34), reinforcing a bearish trend. The 60-day high of 34.67 provides a potential resistance level.
Directional Bias: Given the current RSI and position relative to moving averages, there is a possibility for a reversal or a short-term bounce back towards the moving averages.
Trade Plan:
- Suggested Entry:
$30.91
- Stop Loss:
$30.50 (below recent low)
- Take Profit Targets:
1.
$31.50 (2% gain)
2.
$32.00 (3.5% gain)
3.
$36.20 (17% gain)
This plan allows for a risk-reward ratio that aligns with the potential for a price recovery, targeting a significant ROI on the third take profit.
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