Dec. 6 at 2:22 AM
Actionable Trade Alert for
$BJ
Market Context: The stock closed at
$90.99, indicating a potential reversal as it approaches the lower end of the 60-day range (low of
$86.68). The RSI at 41.99 suggests the stock is nearing oversold conditions, providing a bullish bias.
Directional Bias: The stock is currently below both the 30-day (91.2) and 50-day (91.66) moving averages, indicating short-term weakness. However, the proximity to the 60-day low and the RSI suggests a potential bounce-back.
Trade Plan:
- Suggested Entry:
$90.50 (slightly below the last close to capture potential upside)
- Stop Loss:
$88.50 (to limit risk)
- Take Profit Targets:
1.
$93.00 (3% gain)
2.
$95.00 (4.5% gain)
3.
$106.00 (16.5% gain)
This plan provides a strong risk-reward ratio with a potential ROI of over 17% on the third target. Monitor closely for market conditions.
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