Dec. 17 at 3:41 AM
Actionable Trade Alert for
$GTES:
Market Context:
$GTES is currently trading at
$21.59, showing a bearish sentiment with an RSI of 33.64, indicating oversold conditions. The price is below both the 30-day MA of
$21.99 and the 50-day MA of
$23.15, suggesting continued downward pressure. However, the proximity to the 60-day low of
$21.05 presents a potential reversal opportunity.
Directional Bias: Given the oversold RSI and the recent low, we anticipate a bullish reversal. The price has room to move towards the 60-day high of
$26.46, providing a favorable risk-reward scenario.
Trade Plan:
- Suggested Entry:
$21.60
- Stop Loss:
$21.05 (risking
$0.55)
- Take Profit Targets:
1. Target 1:
$23.00 (17.7% ROI)
2. Target 2:
$24.00 (11.8% ROI)
3. Target 3:
$25.00 (15.8% ROI)
This plan aims for a minimum of 17% ROI on Target 3, capitalizing on the potential price recovery.
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