Dec. 11 at 11:48 PM
Actionable Trade Alert for
$CFLT:
Market Context:
$CFLT is currently trading at
$30.11, showing strong momentum. The RSI of 85.95 indicates overbought conditions, suggesting a potential pullback. However, the price is near its 60D high of
$30.23, indicating bullish sentiment in the short term.
Directional Bias: Despite the overbought RSI, the price is above both the 30-day MA (23.73) and the 50-day MA (23.21), indicating a strong upward trend. The recent high-low range suggests room for further gains if momentum continues.
Trade Plan:
- Suggested Entry:
$30.11
- Stop Loss:
$28.00 (approx. 7% below entry)
- Take Profit Targets:
- TP1:
$31.00 (approx. 3% gain)
- TP2:
$32.00 (approx. 6% gain)
- TP3:
$35.25 (approx. 17% gain)
The risk-reward ratio is favorable, with potential for over 17% ROI at TP3. Monitor market conditions closely.
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