Dec. 17 at 2:38 AM
Actionable Trade Alert for
$HBAN:
Market Context:
$HBAN is currently trading at
$17.64, showing strong bullish momentum with an RSI of 82.24, indicating overbought conditions. However, the price is above both the 30-day (MA30=16.23) and 50-day (MA50=16.09) moving averages, suggesting a strong upward trend.
Directional Bias: The recent high of
$18.04 within the last 60 days indicates potential resistance, while the low of
$15.05 provides a solid support level. Given the current price and RSI, we anticipate a pullback before further upward movement.
Trade Plan:
- Suggested Entry:
$17.50
- Stop Loss:
$16.80 (approx. 4% risk)
- Take Profit Targets:
1.
$18.00 (1st Target, 2.86% gain)
2.
$18.50 (2nd Target, 5.11% gain)
3.
$20.00 (3rd Target, 13.52% gain)
With these targets, the third target offers a potential ROI of over 17%. Monitor the price action closely for any signs of reversal.
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