Dec. 11 at 11:30 PM
Actionable Trade Alert for
$HRL:
Market Context:
$HRL is currently at
$23.94, showing strong momentum but is overbought with an RSI of 71.97. The price is above both the 30-day MA of
$22.69 and the 50-day MA of
$23.14, indicating bullish sentiment. However, caution is warranted due to the high RSI.
Directional Bias: The price is approaching the 60-day high of
$25.30, suggesting potential resistance. The recent low of
$21.03 provides a solid support level.
Trade Plan:
- Suggested Entry:
$23.94
- Stop Loss:
$22.50 (approximately 6% below entry)
- Take Profit Targets:
1. Target 1:
$24.50 (2.34% ROI)
2. Target 2:
$25.00 (4.41% ROI)
3. Target 3:
$28.00 (17.48% ROI)
Given the current metrics, aim for profit-taking at the specified targets while managing risk with the stop loss. Monitor the RSI and price action closely for any signs of reversal.
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