Dec. 15 at 5:42 AM
Actionable Trade Alert for
$HOOD
Market Context:
$HOOD is currently trading at
$119.5, showing potential for upward movement. The RSI of 59.13 indicates bullish momentum, while the proximity to the 60D high of
$153.86 suggests room for growth. The MA30 and MA50 are above the current price, indicating a possible reversal.
Directional Bias: Given the current RSI and the price being closer to the 60D high than the low, we have a bullish outlook. The ATR of 7.62 suggests volatility, allowing for significant price movement.
Trade Plan:
- Suggested Entry:
$120.5 (slightly above current close to confirm upward momentum)
- Stop Loss:
$113.5 (below recent support)
- Take Profit Targets:
1. Target 1:
$130 (8% gain)
2. Target 2:
$140 (16% gain)
3. Target 3:
$140.5 (17.5% gain)
This plan offers a solid risk-reward ratio with the potential for over 17% ROI at the third target.
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