Dec. 17 at 2:22 AM
Actionable Trade Alert for
$ARES:
Market Context:
$ARES is currently trading at
$173.49, showing strong momentum with an RSI of 80.13, indicating overbought conditions. The price is significantly above both the 30-day MA of
$157.63 and the 50-day MA of
$153.83, suggesting bullish sentiment but caution is warranted due to potential pullbacks.
Directional Bias: The high of
$186.85 provides a key resistance level, while the low of
$139.20 indicates strong support. Given the current price and technical indicators, a short-term bullish bias is favored, but watch for possible corrections.
Trade Plan:
- Suggested Entry:
$173.49
- Stop Loss:
$167.00 (approximately 3.5% below entry)
- Take Profit Targets:
1.
$180.00 (3.8% gain)
2.
$185.00 (6.6% gain)
3.
$203.00 (17% gain)
Target 3 offers a significant ROI while allowing for potential price movement. Monitor RSI for signs of reversal.
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