Dec. 6 at 3:30 AM
Actionable Trade Alert for
$INDB:
Market Context:
$INDB is currently trading at
$73.73, showing strong momentum with an RSI of 66.08, indicating bullish sentiment but nearing overbought conditions. The price is above both the 30-day MA (69.65) and the 50-day MA (69.26), confirming a bullish trend. The recent 60-day high of
$74.66 suggests potential resistance, while the low of
$63.33 provides a solid support level.
Directional Bias: Bullish. The current price action and moving averages support upward movement, although caution is warranted due to the RSI nearing overbought territory.
Trade Plan:
- Suggested Entry:
$73.80
- Stop Loss:
$71.50 (3.11% risk)
- Take Profit Targets:
1.
$75.00 (1.63% gain)
2.
$76.50 (3.39% gain)
3.
$86.50 (17.38% gain)
This trade plan aims for a minimum 17% ROI at the third target. Monitor closely for any shifts in momentum.
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