Dec. 25 at 2:09 PM
Actionable Trade Alert for
$IT:
Market Context: Currently,
$IT is trading at
$251.18, showing strong momentum as indicated by an RSI of 78.98, suggesting overbought conditions. However, the price remains above both the 30-day MA (235.43) and 50-day MA (238.07), indicating bullish sentiment in the short to medium term. The recent high of
$264.90 offers a potential resistance level.
Directional Bias: Given the RSI's elevated level, a pullback may occur, but the overall trend remains bullish as prices are above key moving averages.
Trade Plan:
- Suggested Entry:
$251.18
- Stop Loss:
$243.00 (below the 30-day MA)
- Take Profit Targets:
1.
$258.00 (Target 1, approx. 2.7% ROI)
2.
$264.00 (Target 2, approx. 5.1% ROI)
3.
$294.00 (Target 3, approx. 17% ROI)
Monitor price action closely, especially around the resistance at
$264.90. Adjust stop loss as needed to lock in profits.
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