Dec. 25 at 1:59 PM
$IOT: Current market context shows a bearish trend with the last close at
$36.56, below both the 30-day MA (38.98) and 50-day MA (38.9). The RSI at 37.14 indicates that the stock is nearing oversold territory, suggesting a potential reversal. The 60D high of
$47.47 and low of
$34.78 provides a range to assess potential upside.
Directional bias is cautiously bullish due to the RSI indicating oversold conditions, which may lead to a price rebound.
Trade Plan:
- Suggested Entry:
$36.75 (slightly above the last close)
- Stop Loss:
$34.50 (below the 60D low)
- Take Profit Targets:
1.
$39.00 (1st target, approx. 6.1% ROI)
2.
$41.50 (2nd target, approx. 13.5% ROI)
3.
$42.75 (3rd target, approx. 16.8% ROI)
This plan allows for a conservative entry with a favorable risk-reward ratio.
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