Dec. 25 at 1:52 PM
Actionable Trade Alert for
$CIEN:
Market Context:
$CIEN is currently trading at
$240.28, showing strength but nearing overbought conditions with an RSI of 68.33. The stock is above its 30-day MA of 206.85 and 50-day MA of 197.88, indicating bullish momentum. However, caution is warranted as the RSI suggests potential for a pullback.
Directional Bias: Bullish, given the price is near the 60-day high of
$248.00, but the RSI indicates it may be overextended.
Trade Plan:
- Suggested Entry:
$240.00
- Stop Loss:
$230.00 (1.5% risk)
- Take Profit Targets:
1.
$250.00 (4.07% gain)
2.
$260.00 (8.23% gain)
3.
$280.00 (16.54% gain)
The third target provides a potential ROI of over 17%, making this a compelling trade setup. Monitor the price action closely for any signs of reversal.
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