Dec. 6 at 1:43 AM
Actionable Trade Alert for
$AXON:
Market Context:
$AXON is currently trading at
$550.61, with an RSI of 45.95 indicating it is neither overbought nor oversold. The price is below both the 30-day MA of 607.53 and the 50-day MA of 646.05, suggesting a bearish trend in the short to medium term. However, the price is above the 60-day low of 508.72, indicating potential support.
Directional Bias: Given the current RSI and proximity to the 60-day low, there is a cautious bullish bias. A reversal may be on the horizon if it can break through resistance levels.
Trade Plan:
- Suggested Entry:
$555.00
- Stop Loss:
$530.00 (risking
$25.00)
- Take Profit Targets:
1.
$600.00 (TP1) - 8.1% ROI
2.
$650.00 (TP2) - 17.0% ROI
3.
$645.00 (TP3) - 17.1% ROI
This plan allows for a potential 17% ROI on TP3 while managing risk effectively. Monitor price action closely for adjustments.
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