Dec. 6 at 2:40 AM
$CTRE: Actionable Trade Alert
Market Context:
$CTRE is currently trading at
$37.76, exhibiting a strong bullish momentum. The RSI at 73.06 indicates overbought conditions, suggesting a potential pullback. However, the stock is above its 30-day (MA30: 36.17) and 50-day (MA50: 35.44) moving averages, indicating a prevailing uptrend. The recent 60-day high of
$38.32 suggests resistance, while the low of
$32.79 provides a support level.
Directional Bias: The bullish trend is supported by the moving averages, but the high RSI signals caution. A short-term pullback may present a buying opportunity.
Trade Plan:
- Suggested Entry:
$37.50
- Stop Loss:
$36.50 (1.33% risk)
- Take Profit Targets:
- TP1:
$38.00 (1.33% gain)
- TP2:
$39.00 (3.99% gain)
- TP3:
$44.00 (17% gain)
This plan offers a favorable risk-reward ratio, with TP3 providing a significant ROI. Monitor market conditions closely.
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