Dec. 5 at 10:27 PM
Actionable Trade Alert for
$CGNX:
Market Context:
$CGNX is currently trading at
$38.9, showing a strong upward trend in the context of recent price action. The RSI at 61.38 indicates bullish momentum but is not overbought, allowing for further upside potential.
Directional Bias: The stock is positioned below the 30-day moving average (MA30) of
$39.86 and the 50-day moving average (MA50) of
$42.22, suggesting a possible rebound. The 60-day high of
$49.76 presents a significant resistance level, while the low of
$34.68 sets a solid support base.
Trade Plan:
- Suggested Entry:
$39.00
- Stop Loss:
$36.50
- Take Profit Targets:
1.
$42.00 (7.69% ROI)
2.
$45.00 (15.38% ROI)
3.
$46.50 (19.35% ROI)
This setup provides a favorable risk-reward ratio with the potential for over 17% ROI at the third target. Monitor the price action closely for any adjustments.
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