Dec. 11 at 10:35 PM
Actionable Trade Alert for
$COP:
Market Context:
$COP is currently trading at
$96.79, showing strong momentum with an RSI of 81.11, indicating overbought conditions. The stock is above its 30-day and 50-day moving averages (MA30=89.72, MA50=89.67), suggesting bullish sentiment. However, the high of
$99.65 within the last 60 days indicates potential resistance ahead.
Directional Bias: Given the high RSI and proximity to the 60D high, a pullback may occur. However, bullish momentum could still push prices higher before any significant retracement.
Trade Plan:
- Suggested Entry:
$96.79 (current price)
- Stop Loss:
$94.65 (below recent support, approximately 2.2% risk)
- Take Profit Targets:
1. TP1:
$98.50 (1.76% gain)
2. TP2:
$100.00 (3.87% gain)
3. TP3:
$113.00 (16.7% gain)
This plan offers a potential ROI of over 17% on TP3. Monitor closely for price action near resistance levels.
https://privateprofiteers.com
