Dec. 25 at 1:35 PM
Actionable Trade Alert for
$CMI:
Market Context:
$CMI is currently trading at
$517.6, showing a stable price action above the 30-day moving average (MA30) of
$496.68 and the 50-day moving average (MA50) of
$471.84. The RSI at 53.4 indicates neutral momentum, suggesting potential for upward movement without being overbought.
Directional Bias: The price is near the 60-day high of
$526.5, presenting a bullish outlook. The recent price action above key moving averages indicates strength, while the RSI supports further upside potential.
Trade Plan:
- Suggested Entry:
$520
- Stop Loss:
$500 (4% below entry)
- Take Profit Targets:
1.
$530 (2% gain)
2.
$540 (3.85% gain)
3.
$605 (16.5% gain)
The third target provides a potential ROI of over 17% based on the entry price. Monitor the ATR of 12.65 for volatility considerations.
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