Dec. 25 at 1:41 PM
Actionable Trade Alert for
$CAH:
Market Context:
$CAH is currently trading at
$207.54, showing strong bullish momentum as indicated by an RSI of 77.38, suggesting overbought conditions. However, the price is above the 30-day moving average (MA30) of
$204.17 and the 50-day moving average (MA50) of
$193.06, indicating a bullish trend.
Directional Bias: The high of
$214.93 over the past 60 days presents a potential resistance level, while the low of
$150.78 indicates strong support. Given the current price is approaching the 60D high, caution is warranted.
Trade Plan:
- Suggested Entry:
$207.54
- Take Profit Targets:
1. TP1:
$212.00 (2.14% gain)
2. TP2:
$218.00 (5.05% gain)
3. TP3:
$243.00 (17.00% gain)
- Stop Loss:
$202.00 (2.46% risk)
With a solid risk-reward ratio, this trade offers a potential ROI of 17% or more on the third target. Monitor price action closely.
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