Dec. 19 at 3:59 PM
Actionable Trade Alert for
$DRI:
Market Context:
$DRI is currently trading at
$192.88, near its 60-day high of
$198.00. The RSI of 68.46 indicates overbought conditions, suggesting potential for a pullback. However, the strong upward momentum is supported by the proximity to key moving averages (MA30 at 177.69 and MA50 at 180.24).
Directional Bias: The bullish trend is evident, but caution is warranted due to the high RSI. A short-term pullback could provide a better entry point.
Trade Plan:
- Suggested Entry:
$192.88 (current price)
- Stop Loss:
$188.25 (1.5 ATR below the entry)
- Take Profit Targets:
1. Target 1:
$198.00 (60D High) – 2.2% ROI
2. Target 2:
$203.00 (approx. 5.3% ROI)
3. Target 3:
$226.00 (approx. 17% ROI)
Monitor price action closely as it approaches the targets. Adjust stop loss to protect profits as targets are hit.
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