Dec. 6 at 1:41 AM
$EA Trade Alert:
Market Context: The last close at
$203.44 shows a strong position near the 60D high of
$203.75, indicating bullish momentum. The RSI at 68.95 suggests the stock is approaching overbought territory, which could lead to a pullback. However, the MA30 at
$201.26 and MA50 at
$200.22 indicate a strong upward trend.
Directional Bias: The proximity to the 60D high and the upward trend in moving averages support a bullish outlook, but caution is warranted due to the RSI nearing overbought levels.
Trade Plan:
- Suggested Entry:
$203.00
- Stop Loss:
$200.00 (below MA30)
- Take Profit Targets:
- Target 1:
$206.00 (1.48% gain)
- Target 2:
$210.00 (3.25% gain)
- Target 3:
$238.00 (17% gain)
The risk-reward ratio is favorable, especially with the potential for significant upside at Target 3. Monitor RSI for signs of reversal.
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