Dec. 12 at 12:22 AM
$CE: Actionable Trade Alert
Market Context: With the last close at
$43.34, the stock is currently trading near the upper range of its 60-day high of
$46.36. The RSI of 78.86 indicates that the stock is overbought, suggesting a potential pullback. However, the strong momentum could still push prices higher before any correction.
Directional Bias: The stock shows bullish momentum, supported by the MA30 (39.39) and MA50 (40.35) being below the current price, indicating upward strength. The proximity to the 60D high suggests a resistance level but also potential for gains.
Trade Plan:
- Suggested Entry:
$43.34
- Stop Loss:
$41.00 (approx. 5.4% below entry)
- Take Profit Targets:
- Target 1:
$45.00 (3.83% gain)
- Target 2:
$46.00 (6.23% gain)
- Target 3:
$50.75 (17.2% gain)
This plan allows for a strong risk-to-reward ratio, capitalizing on the current bullish trend while managing risk effectively.
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