Dec. 11 at 11:19 PM
Actionable Trade Alert:
$BBY
Market Context:
$BBY is currently trading at
$75.41, with a neutral RSI of 54.0 indicating no immediate overbought or oversold conditions. The stock is below its 30-day moving average (MA30) of
$76.98 and 50-day moving average (MA50) of
$77.78, suggesting a potential upward correction.
Directional Bias: The price is approaching the 60-day low of
$70.41, providing a support level. The ATR of 2.72 indicates moderate volatility, allowing for strategic entry points.
Trade Plan:
- Suggested Entry:
$75.50
- Stop Loss:
$73.00 (3.3% below entry)
- Take Profit Targets:
1. Target 1:
$78.00 (3.3% gain)
2. Target 2:
$80.00 (5.9% gain)
3. Target 3:
$88.00 (16.6% gain)
With a potential ROI of over 17% at Target 3, this trade offers a favorable risk-reward ratio. Monitor price action closely for entry confirmation.
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