Nov. 14 at 2:49 AM
$IBM Trade Plan:
Market Context: The last close at
$304.86 is above the 30-day moving average (MA30) of
$296.31, suggesting a bullish short-term trend. The RSI at 47.75 indicates neutral momentum, not yet overbought or oversold.
Directional Bias: The price is closer to the 60-day high of
$324.9 than the low of
$238.25, indicating potential upward movement. The MA50 at
$284.73 supports a bullish outlook as the price is above this level, reinforcing upward momentum.
Suggested Entry: Consider entering a long position above
$305.00 to confirm upward momentum.
Stop: Set a stop loss at
$295.00 to manage risk.
Targets: First target at
$320.00, aligning with resistance near the 60-day high, and a second target at
$325.00, providing a potential for further gains.
Overall, the analysis suggests a cautious bullish strategy with defined risk management.
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