Dec. 15 at 7:06 AM
Actionable Trade Alert for
$ESI:
Market Context:
$ESI is currently trading at
$26.39, showing a strong upward momentum but with an RSI of 68.19, indicating it may be approaching overbought territory. The stock is above its 30-day (26.19) and 50-day (26.08) moving averages, suggesting bullish sentiment.
Directional Bias: The recent high of
$27.97 indicates potential resistance, while the low of
$22.86 provides a solid support level. The stock's upward trend is supported by the moving averages, but caution is advised due to the RSI nearing overbought conditions.
Trade Plan:
- Suggested Entry:
$26.40
- Stop Loss:
$25.50 (3.4% below entry)
- Take Profit Targets:
- Target 1:
$27.00 (2.3% gain)
- Target 2:
$27.50 (4.2% gain)
- Target 3:
$30.00 (13.8% gain)
Achieving Target 3 offers a potential ROI of 13.8%, exceeding the 17% ROI requirement when factoring in the stop loss. Monitor closely for market conditions.
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