Dec. 19 at 3:20 PM
Actionable Trade Alert for
$COF:
Market Context:
$COF is currently trading at
$242.8, showing strong momentum but an overbought condition with an RSI of 88.31. The price is above both the 30-day (MA30: 222.38) and 50-day (MA50: 219.97) moving averages, indicating bullish sentiment. However, the RSI suggests potential for a pullback.
Directional Bias: The high of
$244.82 over the last 60 days indicates resistance, while the low of
$199.09 provides a solid support base. Given the current price is near the 60D high, caution is advised.
Trade Plan:
- Suggested Entry:
$242.8
- Stop Loss:
$237.5 (below recent support)
- Take Profit Targets:
1. Target 1:
$247.5 (1.1% gain)
2. Target 2:
$250.0 (2.9% gain)
3. Target 3:
$284.0 (17% gain)
This plan allows for capturing short-term gains while positioning for a significant upside. Monitor RSI for any signs of reversal.
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