Dec. 10 at 2:31 AM
Actionable Trade Alert for
$BAC:
Market Context:
$BAC is currently trading at
$53.59, showing strength as it approaches its 60D high of
$54.83. The RSI at 66.12 suggests bullish momentum but is nearing overbought territory, indicating potential caution. The MA30 and MA50 are both above the last close, providing support levels.
Directional Bias: The upward trend is supported by the MA30 (52.98) and MA50 (52.14), indicating a bullish bias. The price is within the high-low range, suggesting potential for upward movement.
Trade Plan:
- Suggested Entry:
$53.70 (slightly above last close for confirmation)
- Stop Loss:
$52.50 (below MA30 for risk management)
- Take Profit Targets:
1. TP1:
$54.20 (approx. 0.9% gain)
2. TP2:
$55.00 (approx. 2.4% gain)
3. TP3:
$62.50 (approx. 16.6% gain)
With this plan, we aim for a minimum of 17% ROI on TP3, capitalizing on the bullish trend while managing risk effectively.
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