Dec. 12 at 12:10 AM
Actionable Trade Alert for
$AMTM:
Market Context:
$AMTM is currently trading at
$28.84, exhibiting strong bullish momentum as indicated by an RSI of 74.6, suggesting overbought conditions. However, the price is above both the 30-day MA (24.78) and the 50-day MA (24.38), indicating a strong upward trend. The recent 60-day high of
$31.87 provides a resistance level to watch.
Directional Bias: The bullish trend is supported by the price being well above the moving averages, but the high RSI indicates potential for a pullback.
Trade Plan:
- Suggested Entry:
$28.84
- Stop Loss:
$27.00 (1.82 ATR below the entry)
- Take Profit Targets:
1.
$30.00 (4.0% ROI)
2.
$31.00 (7.3% ROI)
3.
$33.75 (17.0% ROI)
Monitor the price action closely, as a breach below the stop loss may indicate a trend reversal.
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