Dec. 15 at 5:34 AM
Actionable Trade Alert for
$BAC
Market Context:
$BAC is currently trading at
$55.14, near its 60-day high of
$55.29. The RSI is at 81.18, indicating overbought conditions, which may suggest a potential pullback. However, the price is above both the 30-day MA (53.16) and the 50-day MA (52.36), signaling a strong upward trend.
Directional Bias: The strong price action above key moving averages and the recent high suggest bullish momentum, but the elevated RSI indicates caution for potential reversals.
Trade Plan:
- Suggested Entry:
$55.00 (slightly below current price for better positioning)
- Stop Loss:
$53.50 (below the 30-day MA)
- Take Profit Targets:
1.
$56.00 (1.81% gain)
2.
$57.00 (3.39% gain)
3.
$64.50 (17% gain)
With the potential for significant upside, this trade presents an attractive risk-reward scenario. Monitor the RSI closely for signs of reversal.
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