Dec. 25 at 1:20 PM
Actionable Trade Alert for
$BAC:
Market Context: With the last close at
$56.25,
$BAC is currently in a strong upward trend, indicated by its proximity to the 60-day high of
$56.5. The RSI at 69.1 suggests the stock is nearing overbought territory, which may lead to a pullback. However, the moving averages (MA30 at 53.68 and MA50 at 53.23) indicate a bullish trend as the price is above these key levels.
Directional Bias: The stock shows bullish momentum but is approaching overbought conditions. A cautious approach is warranted.
Suggested Trade Plan:
- Entry:
$56.25
- Stop Loss:
$54.00 (4% below entry)
- Take Profit Targets:
1. TP1:
$57.50 (2.22% ROI)
2. TP2:
$58.50 (4.43% ROI)
3. TP3:
$65.75 (16.88% ROI)
This plan offers a solid risk-reward ratio with potential for significant gains. Monitor the RSI and price action closely for adjustments.
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