Dec. 6 at 1:51 AM
Actionable Trade Alert for
$IRM:
Market Context:
$IRM is currently trading at
$85.03, showing a bearish trend with the RSI at 33.61, indicating potential oversold conditions. The stock is below both the 30-day MA of 94.42 and the 50-day MA of 98.14, suggesting a continuation of the downtrend. However, the price is near the 60-day low of 82.00, which may provide a support level.
Directional Bias: Given the RSI below 40 and the position relative to MAs, the bias remains bearish in the short term, but a potential reversal could occur if the price breaks above resistance levels.
Suggested Trade Plan:
- Entry:
$85.50 (slightly above current close to confirm upward momentum)
- Stop Loss:
$82.00 (below the 60D low)
- Take Profit Targets:
1.
$90.00 (5.8% ROI)
2.
$95.00 (11.7% ROI)
3.
$100.00 (17.6% ROI)
Monitor the stock closely for any signs of reversal or increased volume.
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