Dec. 11 at 11:53 PM
Actionable Trade Alert for
$CHYM
Market Context:
$CHYM is currently trading at
$27.19, close to its 60D high of
$27.3, indicating strong upward momentum. The RSI at 97.34 suggests it is overbought, which may lead to a pullback. However, the strong trend indicated by the moving averages (MA30 at 20.54 and MA50 at 20.05) supports bullish sentiment.
Directional Bias: The price is significantly above both the 30-day and 50-day moving averages, reinforcing a bullish outlook despite the high RSI. The 60D low of
$16.17 provides a solid reference for potential support levels.
Trade Plan:
- Suggested Entry:
$27.19
- Stop Loss:
$25.00 (approximately 8% risk)
- Take Profit Targets:
1. Target 1:
$28.00 (3% gain)
2. Target 2:
$30.00 (10.5% gain)
3. Target 3:
$31.85 (17.5% gain)
This plan provides a balanced risk-reward ratio, capitalizing on the current bullish trend while managing risk effectively.
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