Dec. 15 at 7:15 AM
Actionable Trade Alert for
$BOOT:
Market Context:
$BOOT is currently trading at
$204.71, showing strong momentum but is approaching overbought conditions with an RSI of 69.31. The 60D high stands at
$210.25, indicating potential resistance, while the 60D low is at
$162.1, providing a solid support range.
Directional Bias: The price is above both the 30-day MA (188.98) and 50-day MA (186.77), suggesting a bullish trend. However, the high RSI indicates caution as it approaches overbought territory.
Trade Plan:
- Suggested Entry:
$204.71
- Stop Loss:
$197.54 (below recent support and ATR)
- Take Profit Targets:
1.
$210.25 (60D High) - 2.5% gain
2.
$217.00 (approx. 6% gain)
3.
$240.00 (approx. 17% gain)
Monitor the price action closely, especially around the resistance level of
$210.25. Adjust the stop loss to lock in profits as targets are reached.
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