Dec. 6 at 1:32 AM
Actionable Trade Alert for
$CTAS:
Market Context:
$CTAS is currently trading at
$184.03, showing a bearish sentiment as indicated by the RSI at 39.31, suggesting it is nearing oversold territory. The price is below both the 30-day (185.36) and 50-day (189.61) moving averages, reinforcing a downward trend. However, the stock is close to its 60-day low of
$180.39, which may provide support.
Directional Bias: Given the current RSI and proximity to the 60D low, there is potential for a rebound. A reversal could be expected if the price breaks above the MA30.
Trade Plan:
- Suggested Entry:
$184.50 (slightly above last close)
- Stop Loss:
$180.00 (below 60D low)
- Take Profit Targets:
1.
$190.00 (target 1, approx. 3.5% ROI)
2.
$195.00 (target 2, approx. 5.9% ROI)
3.
$215.00 (target 3, approx. 17% ROI)
This plan leverages potential upward movement while managing risk effectively.
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