Dec. 5 at 11:19 PM
Actionable Trade Alert for
$FRPT:
Market Context:
$FRPT is currently trading at
$61.99, showing strong bullish momentum with an RSI of 85.83, indicating overbought conditions. The 30-day moving average (MA30) is at
$55.11, and the 50-day moving average (MA50) is at
$53.90, suggesting a strong upward trend as the price is significantly above both MAs.
Directional Bias: The high of
$63.11 over the last 60 days provides a key resistance level. Given the RSI and the proximity to this high, a pullback may occur, but the overall trend remains bullish.
Trade Plan:
- Suggested Entry:
$61.99
- Take Profit Targets:
1. TP1:
$63.11 (3.5% gain)
2. TP2:
$65.00 (5.5% gain)
3. TP3:
$72.00 (16.1% gain)
- Stop Loss:
$59.00 (4.6% risk)
This plan targets a minimum 17% ROI on TP3 while maintaining a defined risk. Monitor closely for price action around the resistance level.
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