Dec. 11 at 11:58 PM
Actionable Trade Alert for
$INGR:
Market Context:
$INGR is currently trading at
$110.5, showing bullish momentum with an RSI of 63.63, indicating it is nearing overbought territory but still has room for further gains. The price is above the 30-day moving average (MA30) of
$108.41, suggesting a positive short-term trend, while it remains below the 50-day moving average (MA50) of
$112.96, indicating potential resistance ahead.
Directional Bias: The bullish sentiment is supported by the recent 60-day high of
$124.73, which provides an upside target, while the 60-day low of
$102.31 establishes a solid support level.
Trade Plan:
- Suggested Entry:
$110.5
- Take Profit Targets:
- TP1:
$115 (4.05% gain)
- TP2:
$120 (8.66% gain)
- TP3:
$129 (16.75% gain)
- Stop Loss:
$108 (1.14% loss)
This plan offers a potential ROI of over 17% on TP3. Monitor closely as the price approaches resistance levels.
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