Dec. 19 at 3:42 PM
Actionable Trade Alert for
$CTSH:
Market Context:
$CTSH is currently showing strong bullish momentum with a last close of
$83.76. The RSI at 90.5 indicates that the stock is overbought, suggesting a potential pullback, but the overall trend remains positive. The stock is near its 60D high of
$84.87, which could act as a resistance level.
Directional Bias: The strong RSI suggests a continuation of the bullish trend, but caution is warranted due to the overbought condition. The MA30 (77.5) and MA50 (74.08) are below the current price, indicating upward momentum.
Trade Plan:
- Suggested Entry:
$83.76
- Stop Loss:
$81.97 (1 ATR below the entry)
- Take Profit Targets:
1. Target 1:
$86.00 (2.66% gain)
2. Target 2:
$88.50 (5.82% gain)
3. Target 3:
$98.00 (17% gain)
This plan allows for a strategic approach to capitalize on potential upward movement while managing risk effectively.
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