Dec. 6 at 3:10 AM
Actionable Trade Alert for
$COGT:
Market Context:
$COGT is currently trading at
$39.31, showing strong momentum but is in overbought territory with an RSI of 77.24. The stock is above its 30-day MA of 28.08 and 50-day MA of 23.01, indicating a bullish trend. However, caution is warranted due to the high RSI, suggesting a potential pullback.
Directional Bias: The bullish trend is supported by the stock's position above key moving averages. The recent high of
$41.27 indicates potential resistance, while the low of
$11.6 provides a solid support level.
Trade Plan:
- Suggested Entry:
$39.31
- Stop Loss:
$36.00 (approximately 8% below entry)
- Take Profit Targets:
1. Target 1:
$41.00 (4.3% gain)
2. Target 2:
$43.00 (9.3% gain)
3. Target 3:
$46.00 (17% gain)
Monitor the trade closely, especially given the current RSI levels. Adjust stop loss as necessary to protect gains.
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