Dec. 15 at 7:28 AM
Actionable Trade Alert for
$DOCN:
Market Context:
$DOCN is currently trading at
$47.66, with a strong bullish sentiment indicated by an RSI of 66.3, suggesting upward momentum but nearing overbought conditions. The price is above the 30-day MA of
$45.99 and the 50-day MA of
$43.46, indicating a bullish trend.
Directional Bias: The recent high of
$52.2 reflects strong resistance, while the low of
$33.69 provides a solid support base. The ATR of 2.23 indicates moderate volatility, allowing for potential price movement.
Trade Plan:
- Suggested Entry:
$48.00
- Stop Loss:
$45.50 (below the 30-day MA)
- Take Profit Targets:
1. Target 1:
$50.00 (4.17% ROI)
2. Target 2:
$51.00 (6.94% ROI)
3. Target 3:
$55.50 (16.40% ROI)
This plan offers a favorable risk-reward ratio with a potential ROI exceeding 17% on the third target. Monitor the trade closely for any signs of reversal.
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