Dec. 17 at 4:21 AM
Actionable Trade Alert for
$CGON:
Market Context:
$CGON closed at
$37.85, significantly below its 60-day high of
$46.01, indicating potential for a rebound. The RSI at 23.37 suggests the stock is oversold, which could lead to a bullish reversal. The moving averages (MA30 at 41.45 and MA50 at 41.90) indicate a bearish trend, but the proximity to the 60-day low of
$35.64 presents a buying opportunity.
Directional Bias: The oversold RSI combined with the recent low suggests a potential upward correction. A break above the MA30 could confirm this shift.
Trade Plan:
- Suggested Entry:
$38.00
- Stop Loss:
$35.50 (risking
$2.50)
- Take Profit Targets:
1.
$40.00 (Risk/Reward: 1:1)
2.
$42.00 (Risk/Reward: 1.6:1)
3.
$44.00 (Risk/Reward: 2.4:1, 17% ROI)
Monitor the trade closely, especially around MA levels.
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