Dec. 17 at 2:55 AM
Actionable Trade Alert for
$ERIE:
Market Context:
$ERIE is currently trading at
$287.51, showing a neutral RSI of 45.71, indicating no immediate overbought or oversold conditions. The stock is positioned between its 60D high of
$330.54 and low of
$273.59, suggesting potential for movement within this range.
Directional Bias: The stock is slightly below its 30-day moving average (MA30) of
$288.14 and significantly below its 50-day moving average (MA50) of
$300.2. This indicates a bearish short-term trend but potential for recovery.
Trade Plan:
- Suggested Entry:
$287.51
- Stop Loss:
$280.00 (approx. 2.6% risk)
- Take Profit Targets:
1.
$300.00 (Target 1, approx. 4.3% gain)
2.
$315.00 (Target 2, approx. 9.5% gain)
3.
$337.00 (Target 3, approx. 17.3% gain)
This plan allows for a favorable risk/reward ratio while targeting a significant ROI on the final take profit.
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