Dec. 6 at 1:48 AM
$ED: Current market context shows a bearish sentiment as the RSI is at 33.9, indicating oversold conditions. The price is currently at
$96.22, which is close to the 60D low of
$95.26, suggesting potential support in this area. The moving averages (MA30 at 99.1 and MA50 at 99.63) indicate a downward trend, reinforcing the bearish bias.
Actionable Trade Plan:
- Suggested Entry:
$96.50 (slightly above current close to confirm upward movement)
- Stop Loss:
$94.50 (below the 60D low for risk management)
- Take Profit Targets:
1.
$100.00 (3.0% gain)
2.
$102.00 (5.9% gain)
3.
$113.00 (17.4% gain)
This plan leverages the potential for a rebound from the oversold RSI and proximity to the 60D low, aiming for a significant ROI with the third target. Monitor for any shifts in momentum to adjust strategy as needed.
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