Dec. 11 at 10:32 PM
Actionable Trade Alert for
$ANET:
Market Context:
$ANET closed at
$131.5, showing strength but is currently overbought with an RSI of 73.94. The price is below the 30-day moving average (MA30) of
$132.89, indicating potential bearish sentiment in the short term. The 60-day high of
$164.94 and low of
$114.52 suggest a significant range, but current momentum may be stalling.
Directional Bias: With the RSI above 70, the stock is overbought, and the price is near the MA30, indicating a possible pullback. However, if it breaks above
$132.89, it could trigger a bullish reversal.
Trade Plan:
- Suggested Entry:
$132.00 (breakout above MA30)
- Stop Loss:
$128.00 (below recent support)
- Take Profit Targets:
1.
$140.00 (target 1)
2.
$150.00 (target 2)
3.
$154.00 (target 3, 17% ROI)
Monitor the price action closely; if it fails to break above
$132, consider reassessing the position.
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