Dec. 10 at 2:29 AM
Actionable Trade Alert for
$AMZN:
Market Context: With the last close at
$227.98,
$AMZN is currently positioned between its 60D high of
$258.6 and low of
$211.03, indicating a potential for upward movement. The RSI at 58.12 suggests bullish momentum, while the MA30 at 234.33 and MA50 at 228.65 indicate a mixed short-term trend.
Directional Bias: Given the RSI is nearing overbought territory but not yet there, and the price is above the MA50, there is a bullish bias. The proximity to the MA30 suggests a potential breakout if momentum continues.
Trade Plan:
- Suggested Entry:
$228.50
- Stop Loss:
$220.00 (3.9% below entry)
- Take Profit Targets:
1.
$240.00 (5.0% ROI)
2.
$250.00 (9.3% ROI)
3.
$267.00 (17% ROI)
This plan allows for a strong risk-reward ratio while capitalizing on upward momentum. Monitor closely for any changes in market conditions.
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