Dec. 19 at 3:53 PM
Actionable Trade Alert for
$BIIB:
Market Context:
$BIIB closed at
$169.91, showing a potential reversal opportunity given the RSI at 30.78, indicating oversold conditions. The stock is currently trading below both the 30-day MA (172.04) and the 50-day MA (162.45), suggesting bearish momentum, but the low RSI signals a potential bounce.
Directional Bias: Given the oversold RSI and proximity to the 60D low (135.39), there is a bullish bias for a short-term reversal. The ATR of 5.29 indicates moderate volatility, allowing for reasonable price movements.
Trade Plan:
- Suggested Entry:
$170.50 (slightly above the last close)
- Stop Loss:
$165.00 (below recent support)
- Take Profit Targets:
1.
$175.00 (2.9% gain)
2.
$180.00 (5.9% gain)
3.
$199.00 (17% gain)
This setup allows for a favorable risk-reward ratio while targeting a significant upside based on current metrics. Monitor closely for price action around targets.
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