Dec. 6 at 2:47 AM
$CADE: Current market context shows a strong upward momentum as indicated by an RSI of 77.98, suggesting overbought conditions. The last close at
$42.03 is near the 60D high of
$42.17, indicating potential resistance. The MA30 and MA50 are significantly lower at
$38.44 and
$38.16, respectively, providing a bullish trend support level.
Directional bias remains bullish, but caution is warranted due to the high RSI. Suggested entry is at
$41.50, slightly below the last close to mitigate risk. Set a stop loss at
$40.00 to limit potential losses.
Take Profit Targets:
1. TP1:
$43.00 (1.2% gain)
2. TP2:
$44.00 (4.7% gain)
3. TP3:
$49.00 (16.6% gain)
This trade plan offers a potential ROI of over 17% at TP3 while maintaining a disciplined risk management approach. Monitor price action closely as it approaches TP1 and TP2 for adjustments.
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