Dec. 19 at 5:28 PM
Actionable Trade Alert for
$INDB:
Market Context: The stock closed at
$77.06, showing strong momentum as indicated by an RSI of 75.36, suggesting overbought conditions. However, this can lead to a pullback or consolidation before further upward movement. The 60D high is
$78.16, indicating a resistance level, while the low is
$63.33, providing a solid support range.
Directional Bias: The stock is trending upwards, supported by MA30 at
$72.07 and MA50 at
$70.38, both below the current price, indicating bullish momentum.
Trade Plan:
- Suggested Entry:
$77.06 (current close)
- Stop Loss:
$75.00 (below recent support)
- Take Profit Targets:
1.
$79.00 (2.5% gain)
2.
$80.50 (4.7% gain)
3.
$90.00 (16.7% gain)
This plan offers a potential ROI of over 17% on the third target while maintaining a reasonable risk-reward ratio.
Stay vigilant and adjust as necessary.
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