Dec. 15 at 7:07 AM
Actionable Trade Alert for
$CGNX:
Market Context:
$CGNX is currently trading at
$35.65, below its 30-day moving average (MA30) of
$38.02 and 50-day moving average (MA50) of
$41.27, indicating bearish momentum. The RSI of 40.86 suggests the stock is nearing oversold territory, which may signal a potential reversal.
Directional Bias: The stock is trading within a 60-day high of
$49.76 and a low of
$34.68, providing a range for potential recovery. Given the current RSI and proximity to the lower end of this range, there is a chance for a rebound.
Trade Plan:
- Suggested Entry:
$36.00 (slightly above current close to confirm momentum)
- Stop Loss:
$34.50 (below recent low to minimize risk)
- Take Profit Targets:
1. Target 1:
$38.00 (5.56% gain)
2. Target 2:
$40.00 (11.11% gain)
3. Target 3:
$41.75 (17.5% gain)
With this setup, a successful trade could yield over 17% ROI at the third target. Monitor closely and adjust as necessary.
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