Dec. 11 at 11:04 PM
Actionable Trade Alert for
$CNP:
Market Context:
$CNP is currently trading at
$37.67, with an RSI of 26.82 indicating it is oversold. The stock is below its 30-day (39.06) and 50-day (39.22) moving averages, suggesting bearish momentum. However, the recent low of
$37.38 and the high of
$40.50 provide a defined trading range.
Directional Bias: Given the oversold RSI, there is potential for a rebound. The proximity to the 60D low indicates a possible reversal opportunity.
Suggested Trade Plan:
- Entry:
$37.70 (slightly above the last close)
- Stop Loss:
$36.80 (below the recent low)
- Take Profit Targets:
1.
$39.00 (approx. 3.5% gain)
2.
$39.75 (approx. 6.8% gain)
3.
$44.00 (approx. 17% gain)
This plan allows for a favorable risk-reward ratio, targeting a significant ROI on the third take profit while managing risk effectively.
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