Dec. 12 at 12:44 AM
Actionable Trade Alert for
$CATY:
Market Context:
$CATY is currently trading at
$50.8, showing strong momentum as indicated by an RSI of 75.41, suggesting it is overbought. The recent price action is above both the 30-day MA (47.72) and the 50-day MA (47.59), indicating bullish sentiment. However, with the RSI above 70, a pullback may be imminent.
Directional Bias: The high of
$51.73 in the last 60 days presents a resistance level, while the low of
$44.57 indicates support. Given the current price near the high, caution is advised, but if momentum continues, there are potential gains.
Trade Plan:
- Suggested Entry:
$50.8
- Stop Loss:
$48.5 (approximately 4.6% below entry)
- Take Profit Targets:
1.
$52.5 (Target 1 - 3.4% gain)
2.
$54.0 (Target 2 - 6.5% gain)
3.
$59.5 (Target 3 - 17.2% gain)
This plan offers a favorable risk-reward ratio while targeting substantial returns. Monitor closely for any signs of reversal.
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