Dec. 19 at 3:23 PM
Actionable Trade Alert:
$CVS
Market Context:
$CVS is currently trading at
$77.79, showing potential for upward movement based on recent metrics. The RSI of 42.45 indicates that the stock is nearing oversold conditions, suggesting a possible reversal. The price is below both the 30-day (78.26) and 50-day (79.01) moving averages, indicating bearish sentiment, but the proximity to the 60-day low of 73.83 may provide support.
Directional Bias: Given the RSI and the current price near the lower end of the 60-day range, there is a bullish bias for a potential rebound.
Trade Plan:
- Suggested Entry:
$78.00
- Stop Loss:
$75.50 (risking
$2.50)
- Take Profit Targets:
1. TP1:
$80.00 (ROI: 25.6%)
2. TP2:
$82.00 (ROI: 50.0%)
3. TP3:
$84.00 (ROI: 66.7%)
The targets are set to capitalize on the potential rebound while ensuring a favorable risk-reward ratio.
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