Dec. 25 at 1:38 PM
Actionable Trade Alert for
$ET:
Market Context: Currently,
$ET is trading at
$16.39, showing a bearish sentiment with an RSI of 34.35, indicating oversold conditions. The stock is below both the 30-day MA of
$16.59 and the 50-day MA of
$16.66, suggesting continued downward pressure. However, the proximity to the 60-day low of
$16.18 provides a potential support level.
Directional Bias: Given the oversold RSI and proximity to the 60-day low, a short-term bullish reversal may be imminent, making this a potential buying opportunity.
Trade Plan:
- Suggested Entry:
$16.40
- Stop Loss:
$16.18 (below the 60D low)
- Take Profit Targets:
1.
$16.80 (2.44% gain)
2.
$17.00 (3.73% gain)
3.
$19.20 (17.04% gain)
This trade plan offers a solid risk-reward ratio with a potential 17% ROI on the third target. Monitor the price action closely for any signs of reversal.
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