Dec. 6 at 2:44 AM
$FR Trade Alert:
Market Context: The last close at
$56.77 indicates a bullish trend, supported by an RSI of 55.61, suggesting momentum is building without being overbought. The price is above the 30-day MA of
$56.05 and the 50-day MA of
$54.65, indicating a positive short to medium-term outlook.
Directional Bias: The proximity to the 60-day high of
$58.00 suggests potential for upward movement. The current price is also within a healthy range, as the 60-day low is
$50.24, providing a solid risk-reward scenario.
Trade Plan:
- Suggested Entry:
$56.80 (slightly above last close to confirm upward momentum)
- Stop Loss:
$55.50 (below the 30-day MA)
- Take Profit Targets:
1.
$57.50 (1.23% gain)
2.
$58.00 (2.06% gain)
3.
$66.50 (17.25% gain)
This plan offers a clear path to profit while managing risk effectively.
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