Dec. 6 at 1:40 AM
$CPNG: Actionable Trade Alert
Market Context: The current price of
$27.02 is near the 60D low of
$26.13, suggesting potential for a bounce. The RSI at 36.87 indicates that the stock is nearing oversold territory, which could lead to a reversal.
Directional Bias: Given the RSI and proximity to the 60D low, there is a bullish bias. However, the stock is below both the 30-day (29.05) and 50-day (30.22) moving averages, indicating a short-term downtrend. A breakout above these levels could signal a stronger upward move.
Trade Plan:
- Suggested Entry:
$27.10 (slightly above last close to confirm momentum)
- Stop Loss:
$25.90 (below the 60D low)
- Take Profit Targets:
1.
$28.50 (TP1, 5.2% ROI)
2.
$29.50 (TP2, 9.3% ROI)
3.
$31.70 (TP3, 17.9% ROI)
Monitor price action closely around the moving averages for confirmation.
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