Dec. 12 at 12:29 AM
Actionable Trade Alert for
$ENPH
Market Context:
$ENPH is currently trading at
$33.07 with a strong bullish sentiment indicated by an RSI of 94.49, suggesting overbought conditions. The stock is above its 30-day MA of 29.62 and 50-day MA of 32.28, reinforcing a bullish trend.
Directional Bias: Given the RSI level and proximity to the 60D high of
$41.28, there is potential for upward movement, but caution is warranted due to the overbought RSI.
Trade Plan:
- Suggested Entry:
$33.07
- Stop Loss:
$30.00 (approximately 9% below entry)
- Take Profit Targets:
1.
$36.00 (Target 1, approx. 8.8% gain)
2.
$39.00 (Target 2, approx. 17.5% gain)
3.
$38.75 (Target 3, approx. 17% gain)
With a potential upside of over 17% on Target 3, this trade offers a favorable risk-reward ratio. Monitor the trade closely due to the high RSI reading.
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