Dec. 6 at 3:35 AM
Actionable Trade Alert:
$ENVA
Market Context:
$ENVA is currently trading at
$136.16, near its 60D high of
$136.41, indicating bullish momentum. The RSI of 64.51 suggests the stock is approaching overbought territory, but not yet extreme, allowing for potential further upside.
Directional Bias: The stock is above its 30-day (125.14) and 50-day (119.88) moving averages, indicating a strong bullish trend. Given the proximity to the 60D high, we anticipate a breakout could occur.
Trade Plan:
- Suggested Entry:
$136.50 (slightly above the last close to confirm momentum)
- Stop Loss:
$132.00 (below recent support)
- Take Profit Targets:
1.
$140.00 (2.8% ROI)
2.
$144.00 (5.7% ROI)
3.
$160.00 (17.5% ROI)
This plan offers a favorable risk-reward ratio with potential for significant upside. Monitor the RSI closely for signs of reversal.
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