Dec. 15 at 6:39 AM
Actionable Trade Alert for
$ELAN:
Market Context:
$ELAN is currently trading at
$21.29, with an RSI of 40.59 indicating a potential oversold condition. The stock is below both the 30-day moving average (MA30) of
$22.01 and the 50-day moving average (MA50) of
$21.67, suggesting bearish momentum. However, the 60-day high of
$23.70 presents a significant upside potential.
Directional Bias: The stock is positioned near the lower end of its 60-day range, which could attract buyers. The ATR of 0.66 indicates moderate volatility, allowing for potential price movements.
Trade Plan:
- Suggested Entry:
$21.30
- Stop Loss:
$20.50 (approximately 3.75% below entry)
- Take Profit Targets:
1. Target 1:
$22.00 (3.29% gain)
2. Target 2:
$22.75 (6.85% gain)
3. Target 3:
$24.00 (12.74% gain)
Target 3 offers a potential ROI of 12.74%, which is below the desired 17%. Adjusting targets or entry may be necessary for higher ROI. Monitor closely for market movements.
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