Dec. 12 at 12:43 AM
$BL Actionable Trade Alert:
Market Context:
$BL is currently trading at
$58.65, showing a strong bullish momentum as indicated by an RSI of 74.2, which suggests overbought conditions. However, the price is near the 60D high of
$59.17, indicating potential resistance.
Directional Bias: The price is above both the 30-day MA of
$56.32 and the 50-day MA of
$54.52, reinforcing a bullish trend. The recent high-low range (60D High of
$59.17 and Low of
$48.74) suggests a strong upward movement, but caution is warranted due to the high RSI.
Trade Plan:
- Suggested Entry:
$58.50 (slightly below the current price to capture potential pullback)
- Stop Loss:
$57.00 (to limit downside risk)
- Take Profit Targets:
1.
$60.00 (3% gain)
2.
$62.00 (6% gain)
3.
$68.50 (17% gain)
This trade plan aims for a balanced approach, capitalizing on the bullish trend while managing risk effectively.
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