Dec. 17 at 3:05 AM
Actionable Trade Alert for
$BEN:
Market Context:
$BEN is currently trading at
$23.47, showing strong momentum with an RSI of 74.49, indicating overbought conditions. The price is above both the 30-day (MA30: 22.61) and 50-day (MA50: 22.72) moving averages, suggesting bullish sentiment. However, the high of
$24.52 from the last 60 days indicates potential resistance.
Directional Bias: Given the overbought RSI and proximity to recent highs, we anticipate a pullback before further gains. The price is still within a favorable range, as the 60D low is
$21.11.
Trade Plan:
- Suggested Entry:
$23.30 (considering a slight pullback)
- Stop Loss:
$22.85 (to limit downside risk)
- Take Profit Targets:
1.
$24.00 (Target 1, 2.87% ROI)
2.
$24.25 (Target 2, 3.32% ROI)
3.
$27.50 (Target 3, 17.67% ROI)
Maintain vigilance for price action around resistance levels. Adjust positions as necessary.
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