Dec. 25 at 1:37 PM
Actionable Trade Alert for
$FTNT:
Market Context:
$FTNT is currently trading at
$81.18, showing a bearish sentiment with an RSI of 38.15, indicating potential oversold conditions. The price is below both the 30-day (81.55) and 50-day (82.69) moving averages, suggesting a downward trend. However, the distance from the 60-day high of 87.66 and low of 75.31 presents an opportunity for a rebound.
Directional Bias: With the RSI indicating oversold conditions and the price nearing the 60-day low, a bullish reversal could occur.
Trade Plan:
- Suggested Entry:
$81.50
- Stop Loss:
$78.00 (3.1% below entry)
- Take Profit Targets:
1.
$84.00 (3.1% gain)
2.
$86.00 (5.8% gain)
3.
$95.00 (16.8% gain)
This setup provides a potential ROI of over 17% on the third target while maintaining a manageable risk. Monitor the price action closely for confirmation.
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