Dec. 6 at 3:34 AM
Actionable Trade Alert for
$CBT:
Market Context:
$CBT is currently trading at
$64.1, showing a moderately bullish sentiment with an RSI of 56.51, indicating potential for upward movement. The stock is above its 30-day moving average (MA30) of
$63.76 but below the 50-day moving average (MA50) of
$67.28, suggesting a possible reversal or continuation of the trend.
Directional Bias: With the recent close near the MA30 and an RSI indicating strength, there is potential for a breakout towards the 60-day high of
$81.72. The price is also well above the 60-day low of
$58.33, reinforcing bullish sentiment.
Trade Plan:
- Suggested Entry:
$64.5
- Stop Loss:
$62.5 (1.5 ATR below entry)
- Take Profit Targets:
1.
$70.0 (Target 1: 8.5% ROI)
2.
$75.0 (Target 2: 16.5% ROI)
3.
$75.5 (Target 3: 17.0% ROI)
This plan offers a clear risk-reward ratio with significant upside potential. Monitor price action closely and adjust stops as necessary.
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