Dec. 15 at 5:47 AM
Actionable Trade Alert for
$BK:
Market Context: The stock closed at
$117.03, significantly above its 30-day MA of
$111.06 and 50-day MA of
$109.45, indicating strong upward momentum. However, the RSI at 86.6 suggests overbought conditions, which may lead to a pullback.
Directional Bias: Bullish in the short term due to recent price strength, but caution is warranted due to high RSI levels. The 60-day high of
$119.4 presents a key resistance level.
Trade Plan:
- Suggested Entry:
$117.03
- Stop Loss:
$113.00 (below recent support)
- Take Profit Targets:
1.
$120.00 (approx. 2.5% gain)
2.
$122.50 (approx. 4.2% gain)
3.
$137.00 (approx. 17% gain)
The third target aligns with a potential breakout scenario if momentum persists despite overbought conditions. Monitor RSI for signs of reversal before entry.
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