Dec. 17 at 2:24 AM
Actionable Trade Alert for
$GWW
Market Context:
$GWW is currently trading at
$1024.3, showing strong bullish momentum but with an RSI of 76.04, indicating it is overbought. The price is above both the 30-day MA (959.28) and the 50-day MA (960.57), suggesting a strong upward trend. However, the proximity to the 60-day high of
$1042.0 could act as resistance.
Directional Bias: Given the high RSI and the recent price action near the 60D high, a pullback is likely before further upward movement.
Trade Plan:
- Suggested Entry:
$1020.00 (considering a slight pullback)
- Stop Loss:
$1000.00 (below the recent support level)
- Take Profit Targets:
- Target 1:
$1042.00 (60D High)
- Target 2:
$1060.00 (approx. 3.5% gain)
- Target 3:
$1200.00 (17% ROI)
Monitor the price action closely; adjust targets if necessary.
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