Dec. 6 at 1:46 AM
Actionable Trade Alert for
$CMG:
Market Context:
$CMG is currently trading at
$34.15, showing bullish momentum as it approaches the 60D high of
$42.82. The RSI at 66.87 indicates overbought conditions but can still support further upside. The MA30 at
$33.44 is below the current price, acting as a support level, while the MA50 at
$36.42 suggests potential resistance.
Directional Bias: The price is above the MA30, indicating a bullish trend. However, caution is warranted due to the high RSI, suggesting a possible pullback.
Trade Plan:
- Suggested Entry:
$34.15
- Stop Loss:
$32.50 (1.65 risk)
- Take Profit Targets:
1.
$37.00 (8.3% ROI)
2.
$40.00 (17.3% ROI)
3.
$40.00 (17.3% ROI)
With the potential to reach the 60D high, target 3 provides an attractive ROI of over 17%. Monitor the trade closely, especially with the RSI nearing overbought levels.
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