Dec. 15 at 7:16 AM
Actionable Trade Alert for
$AMTM:
Market Context:
$AMTM is currently trading at
$29.72, showing strong momentum but is overbought with an RSI of 74.73. The stock is above its 30-day moving average (MA30) of
$25.58 and 50-day moving average (MA50) of
$24.68, indicating bullish sentiment. However, the high of
$31.87 in the last 60 days suggests potential resistance.
Directional Bias: Given the high RSI and proximity to the 60D high, a pullback may occur. However, if momentum continues, we can capitalize on potential upside.
Trade Plan:
- Suggested Entry:
$29.72
- Stop Loss:
$27.50 (approximately 7.5% below entry)
- Take Profit Targets:
1.
$31.00 (approx. 4.3% ROI)
2.
$32.50 (approx. 6.3% ROI)
3.
$34.75 (approx. 17% ROI)
Monitor price action closely, especially around resistance levels. Adjust stops to lock in profits as targets are hit.
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