Dec. 10 at 2:33 AM
Actionable Trade Alert for
$CRM:
Market Context:
$CRM is currently trading at
$261.08, showing strong momentum with an RSI of 73.59, indicating overbought conditions. The stock is above its 30-day (MA30) and 50-day (MA50) moving averages, suggesting bullish sentiment. However, the high RSI signals a potential pullback.
Directional Bias: Given the proximity to the 60-day high of
$267.13, there is potential for a short-term upward move, but caution is warranted due to overbought conditions.
Trade Plan:
- Suggested Entry:
$261.08
- Stop Loss:
$253.86 (below MA30 and recent support)
- Take Profit Targets:
1.
$267.13 (60D High) - 2.3% ROI
2.
$275.00 - 5.3% ROI
3.
$305.00 - 16.8% ROI
This plan offers a balanced approach with a clear exit strategy while aiming for a significant return on the third target. Monitor the RSI and price action closely for adjustments.
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