Dec. 6 at 3:00 AM
Actionable Trade Alert for
$CVLT:
Market Context:
$CVLT is currently trading at
$121.34, showing a bearish sentiment as indicated by the RSI of 39.53, which suggests potential oversold conditions. The stock is below both the 30-day MA (131.97) and the 50-day MA (150.48), reinforcing a downward trend.
Directional Bias: Given the current RSI and position relative to MAs, we anticipate a potential reversal or correction upward. The 60-day range indicates a support level at
$116.33, which may act as a floor.
Trade Plan:
- Suggested Entry:
$121.34
- Stop Loss:
$115.00 (approximately 5.5% below entry)
- Take Profit Targets:
1. Target 1:
$130.00 (approximately 7.1% gain)
2. Target 2:
$140.00 (approximately 15.4% gain)
3. Target 3:
$142.50 (approximately 17.4% gain)
This plan allows for a structured approach with a favorable risk-reward ratio. Monitor closely for market conditions.
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