Dec. 19 at 4:19 PM
$IONS: Actionable Trade Alert
Market Context: The stock is currently trading at
$77.63, with a Relative Strength Index (RSI) of 23.46, indicating it is oversold. This suggests a potential reversal or bounce back in price. The 30-day moving average (MA30) is at
$77.13, and the 50-day moving average (MA50) is at
$75.14, indicating a bullish trend may form if the price breaks above these levels.
Directional Bias: Given the low RSI and proximity to MA30, we anticipate a bullish reversal. The 60-day high of
$83.61 provides a clear upside target, while the 60-day low of
$62.19 indicates strong support.
Trade Plan:
- Suggested Entry:
$78.00
- Stop Loss:
$75.00 (3.9% risk)
- Take Profit Targets:
1.
$81.00 (3.9% gain)
2.
$84.00 (7.7% gain)
3.
$91.00 (17% gain)
This setup offers a favorable risk-reward ratio with a potential ROI exceeding 17% on the third target.
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