Dec. 19 at 3:32 PM
$ET Trade Alert:
Market Context:
$ET is currently trading at
$16.21, showing a bearish sentiment with an RSI of 33.55, indicating oversold conditions. The price is below both the 30-day (16.63) and 50-day (16.67) moving averages, suggesting a downward trend. However, the recent low of
$16.18 provides a potential support level.
Directional Bias: Given the oversold RSI and proximity to the 60-day low, we anticipate a potential rebound. A break above the moving averages could signal a reversal.
Trade Plan:
- Suggested Entry:
$16.25 (slightly above the last close)
- Stop Loss:
$15.95 (below the recent low)
- Take Profit Targets:
1.
$16.75 (3.1% ROI)
2.
$17.00 (4.8% ROI)
3.
$19.00 (17.2% ROI)
This plan offers a solid risk-reward ratio with a potential 17%+ ROI on the third target, capitalizing on a possible recovery in price.
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