Dec. 17 at 4:07 AM
Actionable Trade Alert for
$INDV:
Market Context:
$INDV is currently trading at
$35.38, showing strong momentum as indicated by its RSI of 69.93, suggesting it is nearing overbought territory. However, the price is above both the 30-day MA of
$33.16 and the 50-day MA of
$30.03, indicating a bullish trend. The recent 60-day high of
$38.00 provides a key resistance level.
Directional Bias: The bullish trend is supported by the price action above the moving averages, but caution is warranted due to the high RSI.
Trade Plan:
- Suggested Entry:
$35.50 (slightly above the last close to confirm upward momentum).
- Stop Loss:
$34.00 (below recent support).
- Take Profit Targets:
1.
$37.00 (approx. 4.3% gain)
2.
$38.00 (approx. 7.5% gain)
3.
$41.50 (approx. 17.5% gain)
This plan offers a potential ROI of over 17% on the third target while managing risk effectively.
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