Dec. 6 at 3:28 AM
$BNL Actionable Trade Alert:
Market Context:
$BNL is currently trading at
$17.53, showing weakness with an RSI of 35.53, indicating oversold conditions. The price is below both the 30-day (MA30: 18.05) and 50-day (MA50: 18.18) moving averages, suggesting a bearish trend. However, the recent low of
$17.35 and the potential for a bounce from this level presents a trading opportunity.
Directional Bias: The RSI indicates potential for a reversal as it approaches oversold territory. The price is near the 60-day low, which can act as a support level.
Trade Plan:
- Suggested Entry:
$17.55 (slightly above the last close to confirm upward movement)
- Stop Loss:
$17.35 (below recent support)
- Take Profit Targets:
1.
$18.00 (2.56% ROI)
2.
$18.50 (5.57% ROI)
3.
$20.50 (17.5% ROI)
This plan offers a solid risk-reward ratio with the potential for significant upside. Monitor closely for market conditions.
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