Dec. 8 at 10:59 PM
Actionable Trade Alert for
$CMS
Market Context:
$CMS closed at
$70.89, showing weakness with an RSI of 29.12, indicating oversold conditions. The stock is trading below its 30-day (73.44) and 50-day (73.6) moving averages, suggesting a bearish trend. However, the proximity to the 60-day low of 69.76 may provide a reversal opportunity.
Directional Bias: With the RSI indicating oversold conditions, a potential bounce back is likely, especially as it approaches the 60-day low. The ATR of 1.09 suggests moderate volatility, allowing for reasonable profit targets.
Trade Plan:
- Suggested Entry:
$70.50 (slightly above last close to confirm upward momentum)
- Stop Loss:
$68.50 (below 60-day low to manage risk)
- Take Profit Targets:
1.
$72.50 (target 1: 2.84% ROI)
2.
$74.00 (target 2: 4.83% ROI)
3.
$82.00 (target 3: 15.83% ROI)
This plan aims for a potential 17%+ ROI on target 3, leveraging the oversold condition and proximity to the 60-day low.
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