Dec. 19 at 5:22 PM
Actionable Trade Alert for
$BHF:
Market Context:
$BHF is currently trading at
$64.98, showing a strong bearish sentiment with an RSI of 24.78, indicating oversold conditions. The price is near the 60D low of
$44.51, suggesting potential for a reversal.
Directional Bias: The bearish trend is supported by the MA30 at
$65.55 and the MA50 at
$58.71, indicating resistance levels. However, the oversold RSI suggests a potential upward correction.
Trade Plan:
- Suggested Entry:
$65.10 (slightly above the last close to confirm upward momentum)
- Stop Loss:
$62.50 (to limit downside risk)
- Take Profit Targets:
1. TP1:
$67.00 (3% gain)
2. TP2:
$69.00 (6% gain)
3. TP3:
$76.00 (17% gain)
This plan allows for a strategic entry while managing risk effectively. The targets are set based on potential resistance levels and the high-low range.
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