Dec. 5 at 9:56 PM
Actionable Trade Alert for
$HRL:
Market Context:
$HRL is currently trading at
$24.16, exhibiting a strong bullish sentiment with an RSI of 73.73, indicating overbought conditions. The price is above both the 30-day MA of
$22.59 and the 50-day MA of
$23.22, suggesting a positive trend. The recent high of
$25.48 indicates potential resistance, while the low of
$21.03 provides a solid support level.
Directional Bias: Given the RSI and the position above key moving averages, the bias remains bullish. However, caution is warranted due to the overbought RSI.
Suggested Trade Plan:
- Entry:
$24.20 (slightly above the last close to confirm momentum)
- Stop Loss:
$23.50 (to limit risk)
- Take Profit Targets:
1.
$25.00 (3.3% gain)
2.
$25.50 (5.5% gain)
3.
$28.30 (17.0% gain)
This plan offers a solid risk-reward ratio with a potential 17% ROI on the third target. Monitor the price action closely.
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