Dec. 15 at 7:48 AM
Actionable Trade Alert for
$CARG:
Market Context:
$CARG is currently trading at
$38.5, showing strong momentum with an RSI of 78.43, indicating overbought conditions. However, the price is near its 60D high of
$38.62, suggesting potential for a slight pullback or breakout.
Directional Bias: The price is above both the 30-day MA (35.38) and the 50-day MA (35.36), indicating bullish momentum. The proximity to the 60D high suggests a resistance level, but if broken, it could lead to further gains.
Trade Plan:
- Suggested Entry:
$38.5
- Stop Loss:
$36.5 (1.5 ATR below entry)
- Take Profit Targets:
- Target 1:
$39.5 (2.6% gain)
- Target 2:
$41.0 (6.5% gain)
- Target 3:
$45.0 (16.9% gain)
This plan provides a potential ROI of over 17% on the third target, aligning with the bullish trend while managing risk effectively.
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