Dec. 10 at 2:34 AM
Actionable Trade Alert for
$APP:
Market Context:
$APP is currently trading at
$724.74, significantly above its 30-day moving average (MA30) of
$607.57 and 50-day moving average (MA50) of
$611.17. The RSI at 93.16 indicates an overbought condition, suggesting a potential pullback. However, the stock is near its 60-day high of
$745.61, indicating bullish momentum.
Directional Bias: Given the high RSI and proximity to the 60D high, a cautious bullish bias is warranted. The high RSI suggests a potential reversal, but momentum could drive prices higher before any correction.
Trade Plan:
- Suggested Entry:
$724.74
- Stop Loss:
$695.00 (approximately 4% below entry)
- Take Profit Targets:
1. Target 1:
$745.00 (2.8% gain)
2. Target 2:
$765.00 (5.5% gain)
3. Target 3:
$850.00 (17.3% gain)
This plan allows for a strategic exit while managing risk effectively.
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