Dec. 25 at 1:53 PM
Actionable Trade Alert for
$FITB:
Market Context:
$FITB is currently trading at
$48.22, near its 60D high of
$48.71, indicating a strong bullish momentum. However, the RSI at 75.84 suggests that the stock is overbought, which may lead to a pullback.
Directional Bias: The stock's price is above both the 30-day (MA30=44.98) and 50-day (MA50=43.83) moving averages, reinforcing a bullish trend. The proximity to the 60D high indicates potential resistance, while the 60D low of
$40.05 provides a solid support level.
Trade Plan:
- Suggested Entry:
$48.22
- Stop Loss:
$46.00 (approximately 4.6% below entry)
- Take Profit Targets:
1. Target 1:
$50.00 (3.7% gain)
2. Target 2:
$52.00 (7.4% gain)
3. Target 3:
$56.50 (17.3% gain)
This plan offers a favorable risk-reward ratio, targeting a minimum of 17% ROI on the third take profit. Monitor the RSI and price action closely for adjustments.
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