Dec. 25 at 1:20 PM
Actionable Trade Alert for
$HD:
Market Context:
$HD is currently trading at
$347.34, with an RSI of 46.53 indicating neutral momentum. The stock is below both the 30-day MA of 351.66 and the 50-day MA of 363.73, suggesting a bearish short-term trend. However, the price is above the 60-day low of 331.37, indicating potential support.
Directional Bias: Given the current RSI and position relative to MAs, there is a potential for a rebound towards the 30-day MA.
Trade Plan:
- Suggested Entry:
$348.00
- Stop Loss:
$340.00 (8% below entry)
- Take Profit Targets:
- Target 1:
$355.00 (2% gain)
- Target 2:
$365.00 (5% gain)
- Target 3:
$407.00 (17% gain)
This plan allows for a risk-reward ratio that aligns with a 17% ROI on the third target. Monitor price action closely for adjustments.
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