Dec. 9 at 12:15 AM
Actionable Trade Alert for
$BDC:
Market Context:
$BDC is currently trading at
$122.09, showing strong momentum with an RSI of 80.26, indicating overbought conditions. The stock is above its 30-day and 50-day moving averages (both at
$115.82), suggesting bullish sentiment. However, the high of
$133.77 from the last 60 days indicates a potential resistance level.
Directional Bias: Given the high RSI and proximity to the 60-day high, we anticipate a pullback before potential upward movement. The current price is significantly above the moving averages, indicating a correction may be imminent.
Trade Plan:
- Suggested Entry:
$120.00 (wait for a slight pullback)
- Stop Loss:
$116.00 (4% below entry)
- Take Profit Targets:
- Target 1:
$126.00 (5% gain)
- Target 2:
$130.00 (8.33% gain)
- Target 3:
$143.00 (19% gain)
This plan allows for a well-structured approach with a risk-reward ratio that meets our ROI criteria.
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