Dec. 8 at 11:29 PM
Actionable Trade Alert for
$CMA:
Market Context:
$CMA is currently trading at
$83.93, showing strong momentum with an RSI of 90.82, indicating overbought conditions. The stock is above its 30-day (MA30) and 50-day (MA50) moving averages, which are at
$78.89 and
$77.61 respectively. The recent high of
$85.32 suggests potential resistance, while the low of
$66.85 indicates solid support.
Directional Bias: Bullish, but caution is warranted due to the high RSI. The stock may experience a pullback before continuing upward.
Trade Plan:
- Suggested Entry:
$83.93
- Stop Loss:
$81.00 (approximately 3.5% below entry)
- Take Profit Targets:
1. Target 1:
$86.00 (2.5% gain)
2. Target 2:
$88.00 (4.5% gain)
3. Target 3:
$98.00 (17% gain)
This plan offers a favorable risk-reward ratio, with the potential for significant returns on the third target while managing risk with a stop loss.
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