Dec. 11 at 11:07 PM
Actionable Trade Alert for
$BIIB:
Market Context:
$BIIB closed at
$179.09, showing strength but nearing overbought territory with an RSI of 67.12. The stock is above both the 30-day MA (168.75) and 50-day MA (160.76), indicating bullish momentum. The 60-day high of
$185.17 presents a key resistance level, while the low of
$135.39 offers support.
Directional Bias: The bullish trend is supported by the stock's position above the moving averages, but caution is warranted due to the RSI approaching overbought levels.
Trade Plan:
- Suggested Entry:
$179.50
- Stop Loss:
$173.00 (3.5% risk)
- Take Profit Targets:
1.
$185.00 (3.3% gain)
2.
$190.00 (5.9% gain)
3.
$210.00 (17.3% gain)
This plan offers a potential ROI of over 17% on the third target while maintaining a reasonable risk-reward ratio. Monitor the stock closely for volatility as indicated by the ATR of 5.49.
For more insights, visit https://privateprofiteers.com.
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