Dec. 15 at 6:02 AM
$ED: Current market context shows a bearish sentiment with the last close at
$97.53, below both the 30-day MA of
$98.49 and the 50-day MA of
$99.28, indicating downward pressure. The RSI at 38.45 suggests that the stock is nearing oversold territory, which may provide a potential reversal point.
Actionable Trade Plan:
- Suggested Entry:
$97.00 (slightly below current close to capture potential bounce)
- Stop Loss:
$94.50 (to limit risk below the 60D low of
$94.96)
- Take Profit Targets:
1.
$100.00 (1st target, 3.09% ROI)
2.
$102.00 (2nd target, 5.41% ROI)
3.
$114.00 (3rd target, 16.83% ROI)
The targets are set based on potential resistance levels and the high-low range. The ATR of
$1.59 supports these targets as feasible within volatility. Monitor for price action around entry and adjust stops as necessary.
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