Dec. 17 at 2:56 AM
Actionable Trade Alert for
$EWBC:
Market Context:
$EWBC closed at
$114.47, showing strong momentum but with an RSI of 76.55, indicating overbought conditions. The stock is trading above its 30-day MA of
$106.52 and 50-day MA of
$104.39, suggesting bullish sentiment. However, the high of
$116.5 within the last 60 days presents a resistance level.
Directional Bias: The current price is near the 60D high, which could lead to a pullback. The strong RSI signals potential overextension, making a cautious approach advisable.
Trade Plan:
- Suggested Entry:
$113.50 (slightly below the current close to account for potential pullback)
- Stop Loss:
$110.00 (to limit downside risk)
- Take Profit Targets:
- Target 1:
$116.00 (approx. 2.6% gain)
- Target 2:
$118.00 (approx. 4.5% gain)
- Target 3:
$134.00 (approx. 17% gain)
This plan provides a clear risk-reward setup while capitalizing on the current bullish trend.
For more insights, visit https://privateprofiteers.com.
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