Dec. 6 at 2:48 AM
Actionable Trade Alert for
$EMN:
Market Context:
$EMN closed at
$60.66, showing a neutral RSI at 43.67, indicating no immediate overbought or oversold conditions. The price is currently near the 30-day moving average (MA30) of
$60.55, suggesting potential support. The 60-day high of
$68.40 provides a target for bullish sentiment, while the 60-day low of
$56.11 indicates a solid support level.
Directional Bias: The price is hovering near the MA30, with the RSI suggesting room for upward movement. The proximity to the recent high indicates potential for a bullish reversal.
Trade Plan:
- Suggested Entry:
$60.70 (slightly above the close for confirmation)
- Stop Loss:
$58.50 (below recent support)
- Take Profit Targets:
1.
$63.00 (5.5% gain)
2.
$65.00 (7.7% gain)
3.
$71.00 (17% gain)
This trade plan offers a clear risk-reward ratio, capitalizing on potential upward movement while managing risk effectively.
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