Dec. 8 at 11:31 PM
Actionable Trade Alert for
$DDS:
Market Context:
$DDS is currently trading at
$692.59, significantly above its 30-day MA of
$630.83 and 50-day MA of
$621.33, indicating strong bullish momentum. The RSI at 84.15 suggests that the stock is overbought, which could lead to a pullback. However, the recent high of
$737.73 indicates potential for further upside before any significant correction.
Directional Bias: Bullish, but cautious due to high RSI. Monitor for potential short-term corrections.
Trade Plan:
- Suggested Entry:
$692.59
- Stop Loss:
$670.00 (approx. 3.3% below entry)
- Take Profit Targets:
1.
$715.00 (3.2% gain)
2.
$725.00 (4.6% gain)
3.
$810.00 (17% gain)
Rationale: The targets are set based on the recent high and the potential for further upward movement, while the stop loss is placed to minimize risk.
Stay vigilant for market changes and adjust accordingly.
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