Dec. 17 at 4:27 AM
Actionable Trade Alert for
$FRPT:
Market Context:
$FRPT closed at
$63.97, showing strong bullish momentum with an RSI of 83.86, indicating overbought conditions. The stock is trading above its 30-day (MA30: 57.8) and 50-day (MA50: 55.63) moving averages, suggesting a strong upward trend. The recent high of
$65.75 indicates potential resistance.
Directional Bias: The high RSI suggests caution, but the price action indicates a strong bullish trend. The stock remains well above its 60-day low of
$46.76, reinforcing the bullish sentiment.
Trade Plan:
- Suggested Entry:
$63.97
- Stop Loss:
$61.68 (below recent support)
- Take Profit Targets:
1.
$65.00 (approx. 3.2% ROI)
2.
$67.00 (approx. 4.8% ROI)
3.
$75.00 (approx. 17.3% ROI)
With the potential for a 17% ROI on the third target, this trade offers a favorable risk-reward ratio. Monitor the RSI for potential reversal signals.
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