Dec. 19 at 3:51 PM
Actionable Trade Alert for
$GIS:
Market Context:
$GIS closed at
$48.71, showing strong momentum with an RSI of 62.45, indicating bullish sentiment but nearing overbought territory. The price is above both the 30-day MA (46.89) and the 50-day MA (47.27), suggesting a positive trend. The recent 60-day high of
$51.32 provides a key resistance level.
Directional Bias: Bullish. The price action above moving averages and the recent high indicates upward potential. However, caution is warranted due to the RSI nearing overbought levels.
Trade Plan:
- Entry:
$48.71
- Stop Loss:
$46.50 (approximately 4.5% below entry)
- Take Profit Targets:
- Target 1:
$50.00 (2.66% ROI)
- Target 2:
$51.00 (4.45% ROI)
- Target 3:
$57.00 (17% ROI)
This trade plan allows for a favorable risk-reward ratio with a significant upside potential on the third target. Monitor the price action closely and adjust the stop loss as necessary.
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