Dec. 8 at 10:21 PM
Actionable Trade Alert for
$CRM:
Market Context:
$CRM is currently trading at
$258.14, with a strong upward bias reflected in the RSI of 67.07, indicating potential overbought conditions. The MA30 at
$242.84 and MA50 at
$243.87 suggest a bullish trend, as the price is well above these moving averages. The recent 60D high of
$267.13 provides a resistance level to watch.
Directional Bias: The bullish sentiment is supported by the price being above both the MA30 and MA50, indicating strong momentum. However, the RSI nearing 70 suggests caution as it may indicate overextension.
Trade Plan:
- Suggested Entry:
$258.14
- Stop Loss:
$250.00 (below recent support)
- Take Profit Targets:
- Target 1:
$265.00 (2.6% gain)
- Target 2:
$270.00 (4.6% gain)
- Target 3:
$302.00 (17% gain)
This plan allows for a strategic approach to capitalize on potential upward movement while managing risk effectively.
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