Dec. 19 at 4:51 PM
Actionable Trade Alert for
$ETSY:
Market Context:
$ETSY is currently trading at
$53.68, positioned between its 60D high of
$76.51 and low of
$51.02. The RSI at 47.6 indicates a neutral stance, suggesting potential for upward movement as it approaches the oversold territory.
Directional Bias: The stock is below its 30-day MA of
$55.15 and 50-day MA of
$60.69, indicating a bearish trend. However, the proximity to the 60D low suggests a potential reversal opportunity.
Trade Plan:
- Suggested Entry:
$54.00 (slightly above current close)
- Stop Loss:
$51.00 (below recent low)
- Take Profit Targets:
1. TP1:
$57.00 (5.56% ROI)
2. TP2:
$60.00 (11.32% ROI)
3. TP3:
$63.00 (17.42% ROI)
This plan capitalizes on potential upward momentum while managing risk effectively. Monitor RSI for signs of bullish divergence as a confirmation for entry.
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