Dec. 12 at 12:37 AM
$BNL Actionable Trade Alert:
Market Context:
$BNL is currently trading at
$17.61, with an RSI of 43.05 indicating it is nearing oversold conditions. The stock is below its 30-day moving average (MA30) of
$17.87 and 50-day moving average (MA50) of
$18.12, suggesting a bearish trend. However, the stock is within a 60-day high of
$18.87 and a low of
$17.20, indicating potential for a rebound.
Directional Bias: The recent price action suggests a potential reversal as it approaches the lower end of the 60-day range. The ATR of 0.36 indicates moderate volatility, providing room for price movement.
Trade Plan:
- Suggested Entry:
$17.50
- Stop Loss:
$17.20 (below the 60D low)
- Take Profit Targets:
1.
$18.00 (2.84% ROI)
2.
$18.50 (5.02% ROI)
3.
$20.00 (13.65% ROI)
Target 3 offers a potential ROI of over 17%, aligning with our requirements. Monitor closely for price action around these levels.
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