Dec. 8 at 11:42 PM
Actionable Trade Alert for
$CYTK:
Market Context:
$CYTK is currently trading at
$64.16, showing potential for upward movement given its recent price action and technical indicators. The RSI at 42.31 suggests it is nearing oversold territory, indicating a potential reversal.
Directional Bias: The price is above the 30-day moving average (MA30) of
$64.15 and significantly above the 50-day moving average (MA50) of
$61.85, suggesting bullish momentum. The 60-day high of
$69.33 offers a strong resistance level, while the 60-day low of
$47.22 provides a solid support base.
Trade Plan:
- Suggested Entry:
$64.50
- Stop Loss:
$61.50 (approximately 4.67% risk)
- Take Profit Targets:
1.
$67.00 (Target 1, approx. 3.9% gain)
2.
$69.00 (Target 2, approx. 7.5% gain)
3.
$75.00 (Target 3, approx. 16.9% gain)
This plan offers a potential ROI of over 17% on the third target, making it a compelling trade setup.
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