Dec. 6 at 1:28 AM
Actionable Trade Alert for
$COP:
Market Context:
$COP is currently trading at
$93.12, showing strength as it hovers near the upper range of its 60-day high of
$99.65. The RSI at 60.61 indicates bullish momentum, suggesting potential for further upward movement.
Directional Bias: The stock's position above the 30-day MA (88.66) and the 50-day MA (89.82) supports a bullish bias. The recent price action suggests a continuation of the upward trend, especially with the RSI indicating that it is not yet overbought.
Trade Plan:
- Suggested Entry:
$93.50
- Stop Loss:
$90.00 (3.5% risk)
- Take Profit Targets:
- TP1:
$96.00 (2.7% gain)
- TP2:
$98.00 (4.7% gain)
- TP3:
$109.00 (17% gain)
This trade plan aims for a minimum of 17% ROI on TP3 while maintaining a reasonable risk-reward ratio. Monitor closely for price action and adjust targets as necessary.
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