Dec. 12 at 12:38 AM
Actionable Trade Alert for
$BTU:
Market Context:
$BTU is currently trading at
$29.33, showing a strong upward momentum but with an RSI of 68.63, indicating it's nearing overbought territory. The recent price action is above the 30-day MA of
$28.33 and close to the 50-day MA of
$29.3, suggesting bullish sentiment. The 60-day high of
$35.99 presents a potential resistance level.
Directional Bias: Given the RSI and the proximity to the 60-day high, we anticipate a bullish continuation but recommend caution due to the overbought condition.
Trade Plan:
- Suggested Entry:
$29.50
- Stop Loss:
$27.50 (approx. 6.5% below entry)
- Take Profit Targets:
1.
$32.00 (approx. 8.5% ROI)
2.
$34.00 (approx. 14.5% ROI)
3.
$34.50 (approx. 17% ROI)
Monitor price action closely, especially around resistance levels. Adjust stop loss to lock in profits as targets are reached.
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