Dec. 25 at 1:22 PM
Actionable Trade Alert for
$CRM:
Market Context:
$CRM is currently trading at
$265.26, near its 60D high of
$267.9, indicating strong bullish momentum. However, the RSI at 71.14 suggests it is overbought, which may lead to a pullback.
Directional Bias: Given the proximity to the 60D high and the overbought RSI, we anticipate a potential short-term pullback before resuming upward momentum. The MA30 at
$246.77 and MA50 at
$248.5 provide solid support levels.
Trade Plan:
- Suggested Entry:
$265.26
- Stop Loss:
$258.00 (approx. 2.8% risk)
- Take Profit Targets:
1. Target 1:
$272.00 (2.5% gain)
2. Target 2:
$280.00 (5.5% gain)
3. Target 3:
$310.00 (17% gain)
With the potential for a 17% ROI on Target 3, this trade offers a favorable risk-reward ratio. Monitor RSI for signs of reversal before entry.
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