Dec. 12 at 12:28 AM
Actionable Trade Alert for
$IBOC:
Market Context:
$IBOC is currently trading at
$72.62, close to its 60-day high of
$73.65, indicating potential resistance. The RSI at 80.04 suggests an overbought condition, which may lead to a pullback. However, strong momentum can still push the price higher before any correction.
Directional Bias: The price is above the 30-day MA (67.05) and 50-day MA (67.13), indicating a bullish trend. The recent high-low range shows a solid support level at
$63.20, providing a cushion against downside risk.
Trade Plan:
- Suggested Entry:
$72.62
- Stop Loss:
$70.79 (1 ATR below the entry)
- Take Profit Targets:
1.
$74.00 (1.9% gain)
2.
$75.50 (3.5% gain)
3.
$85.00 (17% gain)
With the current momentum, target 3 provides a significant ROI while managing risk effectively. Monitor RSI for signs of reversal.
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