Nov. 14 at 3:00 AM
$BK Trade Plan:
Market Context: The last close for
$BK is
$111.04, indicating a strong position above the 30-day moving average (MA30) of
$107.91 and the 50-day moving average (MA50) of
$107.57. The RSI of 64.48 suggests that the stock is nearing overbought territory but is not yet excessively so, allowing for potential upward movement.
Directional Bias: The stock is currently trading near its 60-day high of
$113.74, indicating bullish momentum. The proximity to the high suggests a potential breakout if buying pressure continues. However, the RSI indicates caution as it approaches overbought levels.
Suggested Entry: Consider entering a long position at
$111.10, just above the last close to capture potential upward momentum.
Stop: Place a stop loss at
$109.50 to manage risk, below recent support levels.
Targets: Aim for a first target at
$113.00, near the 60D high, and a second target at
$114.50, allowing for further upside potential.
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