Dec. 6 at 3:37 AM
Actionable Trade Alert for
$BXMT:
Market Context:
$BXMT closed at
$19.67, showing strong momentum with an RSI of 76.82, indicating overbought conditions. The stock is above its 30-day MA of 18.69 and 50-day MA of 18.56, suggesting bullish sentiment. The recent 60-day high is
$20.1, providing a resistance level to watch.
Directional Bias: Given the high RSI and proximity to the 60-day high, we anticipate a pullback before a potential breakout. However, the overall trend remains bullish due to the moving averages.
Trade Plan:
- Entry:
$19.67
- Stop Loss:
$18.90 (1.5% below entry)
- Take Profit Targets:
1.
$20.00 (1.68% gain)
2.
$20.50 (4.23% gain)
3.
$23.00 (16.88% gain)
The third target provides a potential ROI of over 17%. Monitor price action closely for adjustments.
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