Dec. 25 at 1:23 PM
$APP Trade Alert:
Market Context: The last close at
$727.5 indicates a strong position above the 30-day MA of
$635.72 and the 50-day MA of
$625.53, suggesting bullish momentum. The RSI at 59.27 is approaching overbought territory but still indicates potential for upward movement.
Directional Bias: The price is near the 60-day high of
$738.01, which could act as a resistance level. However, given the current momentum and the RSI, we can anticipate a breakout above this level.
Trade Plan:
- Suggested Entry:
$730
- Stop Loss:
$700 (4.1% risk)
- Take Profit Targets:
1.
$740 (1.37% gain)
2.
$750 (2.74% gain)
3.
$855 (17.5% gain)
The third target aligns with a potential breakout scenario, capitalizing on bullish sentiment. Monitor the price action closely around the resistance level at
$738.
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