Dec. 6 at 1:59 AM
Actionable Trade Alert for
$BIIB:
Market Context:
$BIIB is currently trading at
$181.98, near its 60D high of
$185.17, indicating bullish momentum. However, the RSI at 75.78 suggests it may be overbought, warranting caution.
Directional Bias: The price is above the 30-day MA of 163.86 and the 50-day MA of 156.99, which supports a bullish outlook. The high-low range indicates potential for upward movement, but the elevated RSI signals a possible pullback.
Trade Plan:
- Suggested Entry:
$181.00 (anticipating a slight retracement)
- Stop Loss:
$175.00 (3% below entry)
- Take Profit Targets:
1.
$185.00 (2.2% gain)
2.
$188.00 (3.3% gain)
3.
$213.00 (17% gain)
With these targets, the trade offers a favorable risk-reward ratio, especially with the potential for a significant upside at target 3. Monitor the price action closely to adjust the strategy if necessary.
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