Dec. 6 at 1:22 AM
Actionable Trade Alert for
$APP:
Market Context:
$APP is currently trading at
$683.78, showing a strong bullish momentum with an RSI of 79.26, indicating overbought conditions. However, the price is above both the 30-day MA (599.12) and 50-day MA (609.49), suggesting a strong upward trend.
Directional Bias: The high of
$745.61 over the last 60 days indicates potential resistance, while the low of
$489.3 provides a solid support base. The current price is closer to the recent high, which may limit upside potential but also suggests bullish sentiment.
Trade Plan:
- Suggested Entry:
$683.78
- Stop Loss:
$650.00 (approximately 5% below the entry)
- Take Profit Targets:
- Target 1:
$715.00 (4.5% gain)
- Target 2:
$735.00 (7.5% gain)
- Target 3:
$800.00 (17% gain)
The third target aligns with the potential breakout above the recent high, providing a solid risk-reward ratio.
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