Dec. 11 at 11:29 PM
Actionable Trade Alert for
$ELS:
Market Context:
$ELS is currently trading at
$61.57, showing a neutral RSI at 47.36, indicating potential for upward movement. The price is near the 30-day MA of
$61.76 and the 50-day MA of
$61.89, suggesting a consolidation phase. The recent 60-day high of
$64.00 provides a resistance level, while the low of
$58.93 offers support.
Directional Bias: With the RSI below 50, there is room for upward momentum. The proximity to the moving averages indicates a potential breakout if the price can surpass these levels.
Trade Plan:
- Suggested Entry:
$61.70 (above MA30 and MA50)
- Stop Loss:
$58.90 (below recent low)
- Take Profit Targets:
- Target 1:
$63.00 (3% gain)
- Target 2:
$64.00 (4.3% gain)
- Target 3:
$72.00 (17% gain)
This plan offers a structured approach to capitalize on potential upward movement while managing risk effectively.
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