Dec. 19 at 3:13 PM
Actionable Trade Alert for
$BAC:
Market Context:
$BAC closed at
$54.26, showing strength above its 30-day MA of
$53.36 and 50-day MA of
$52.71. The RSI at 56.21 indicates bullish momentum, suggesting potential for further upside. The stock is trading near its 60-day high of
$56.07, which presents a key resistance level.
Directional Bias: The positive RSI and the stock's position above both moving averages indicate a bullish trend. The price is also within a tight range, with a 60-day low of
$48.53, providing a solid support base.
Trade Plan:
- Suggested Entry:
$54.50 (above last close)
- Stop Loss:
$52.50 (below key support)
- Take Profit Targets:
1.
$56.00 (approx. 2.75% gain)
2.
$57.50 (approx. 5.50% gain)
3.
$63.50 (approx. 17% gain)
This setup offers a favorable risk-reward ratio, with potential for a significant ROI on the third target. Monitor closely for market conditions.
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