Dec. 5 at 10:45 PM
Actionable Trade Alert for
$ELF:
Market Context:
$ELF is currently trading at
$81.62, with an RSI of 64.68 indicating bullish momentum but nearing overbought territory. The stock is below key moving averages (MA30 at 91.06 and MA50 at 108.21), suggesting potential resistance levels ahead. The 60-day high of 150.99 and low of 67.37 indicate a significant range, providing a context for potential upside.
Directional Bias: The upward momentum is supported by the RSI, but caution is warranted due to proximity to the MAs. A breakout above the MA30 could signal further bullish potential.
Trade Plan:
- Suggested Entry:
$82.00
- Stop Loss:
$76.00 (7.4% risk)
- Take Profit Targets:
1.
$90.00 (9.8% gain)
2.
$100.00 (21.9% gain)
3.
$96.00 (17.5% gain)
With a solid risk-reward ratio and potential for over 17% ROI on the third target, this trade presents a favorable opportunity.
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