Dec. 6 at 3:43 AM
Actionable Trade Alert for
$IPAR:
Market Context:
$IPAR is currently trading at
$82.13, significantly below its 60-day high of
$109.63, indicating potential for upward movement. The RSI of 34.24 suggests the stock is oversold, which historically leads to price corrections. The moving averages (MA30 at 86.69 and MA50 at 90.49) indicate a bearish trend, but the proximity to the 60-day low of
$77.21 provides a solid support level.
Directional Bias: With the RSI indicating oversold conditions and the stock trading near its lower range, we anticipate a bullish reversal.
Trade Plan:
- Suggested Entry:
$82.50
- Stop Loss:
$78.00 (below 60D low)
- Take Profit Targets:
1.
$88.00 (Target 1, 6.3% ROI)
2.
$92.00 (Target 2, 11.9% ROI)
3.
$96.50 (Target 3, 17.5% ROI)
This trade plan allows for a calculated entry with a favorable risk-reward ratio. Monitor closely for market changes.
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