Dec. 6 at 3:21 AM
$FORM: Current market context shows a strong upward trend with the last close at
$57.35, significantly above the 30-day MA of
$51.58 and the 50-day MA of
$46.82. The RSI at 72.91 indicates that the stock is overbought, suggesting potential short-term pullbacks. However, the price is still within a bullish range, having recently tested the 60-day high of
$61.1.
Directional bias remains bullish, but caution is warranted due to the high RSI. Suggested entry is at
$57.00, with a stop loss set at
$54.89 (below the ATR of
$2.46).
Take Profit Targets:
1. TP1:
$59.00 (3.51% ROI)
2. TP2:
$60.00 (5.86% ROI)
3. TP3:
$67.00 (16.74% ROI)
This trade plan allows for a strategic approach to capitalize on the upward momentum while managing risk effectively.
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