Dec. 6 at 1:57 AM
Actionable Trade Alert for
$COHR:
Market Context: Currently,
$COHR is experiencing strong bullish momentum with a last close at
$177.35. The RSI at 79.61 indicates overbought conditions, suggesting potential price corrections. However, the stock remains above its 30-day MA of 146.12 and 50-day MA of 133.12, indicating a strong upward trend.
Directional Bias: The strong RSI suggests caution due to potential overbought conditions, but the stock's position above key moving averages supports a bullish outlook. The 60-day high of 186.48 presents a significant resistance level.
Trade Plan:
- Suggested Entry:
$177.35
- Stop Loss:
$168.00 (approximately 5.5% below entry)
- Take Profit Targets:
1.
$185.00 (4.3% gain)
2.
$192.00 (8.3% gain)
3.
$207.00 (16.7% gain)
With these targets, the third take profit offers a potential ROI of over 17%. Monitor RSI for signs of reversal as you approach targets.
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