Dec. 10 at 4:03 AM
$EXP: Current market context shows a strong upward momentum with the last close at
$216.17, but the RSI at 69.42 indicates overbought conditions. The price is above the 30-day moving average (MA30) of
$212.92, suggesting bullish sentiment, yet it remains below the 50-day moving average (MA50) of
$221.76, which could act as resistance.
Directional bias is cautiously bullish, considering the recent high of
$243.64 within the last 60 days, while the low stands at
$197.93, providing a solid range for potential profit.
Suggested trade plan:
- Entry:
$216.50
- Stop Loss:
$210.00 (approx. 3% risk)
- Take Profit Targets:
1.
$225.00 (4% gain)
2.
$235.00 (8.6% gain)
3.
$253.00 (17% gain)
This plan offers a favorable risk-reward ratio, especially with the potential for significant upside at target 3. Execute with caution due to current RSI levels.
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