Dec. 6 at 1:18 AM
Actionable Trade Alert for
$AMZN:
Market Context:
$AMZN is currently trading at
$229.11, showing a bearish sentiment with an RSI of 40.45, indicating potential for upward movement as it approaches oversold conditions. The recent close is below the 30-day moving average (MA30) of
$233.93, but above the 50-day moving average (MA50) of
$228.16, suggesting mixed signals. The stock has a 60-day high of
$258.6 and a low of
$211.03, providing a range for potential price movement.
Directional Bias: Given the RSI and the proximity to the MA50, there is a bullish bias in the short term, particularly if the price breaks above the MA30.
Trade Plan:
- Suggested Entry:
$229.50
- Stop Loss:
$225.00 (approximately 2% risk)
- Take Profit Targets:
1.
$240.00 (4.5% ROI)
2.
$250.00 (8.9% ROI)
3.
$268.00 (17% ROI)
This plan allows for a structured approach to capitalize on potential upward movement while managing risk effectively.
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