Dec. 11 at 10:27 PM
Actionable Trade Alert for
$HD:
Market Context:
$HD closed at
$361.3, showing a strong upward trend but currently overbought with an RSI of 67.82. The stock is trading above its 30-day moving average (MA30) of 358.94, indicating bullish momentum. However, it is below the 50-day moving average (MA50) of 369.92, suggesting potential resistance.
Directional Bias: The current price is near the 60-day high of 421.39, indicating a bullish sentiment, but caution is warranted due to the high RSI. The price is also above the recent low of 331.37, reinforcing a positive outlook.
Trade Plan:
- Suggested Entry:
$362
- Stop Loss:
$350 (3.32% below entry)
- Take Profit Targets:
1.
$375 (3.58% gain)
2.
$390 (7.75% gain)
3.
$423 (17.08% gain)
This plan offers a favorable risk-reward ratio, aiming for a minimum of 17% ROI on the third target.
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