Dec. 11 at 10:26 PM
Actionable Trade Alert for
$JNJ:
Market Context:
$JNJ closed at
$210.8, showing strong momentum with an RSI of 66.75, indicating near overbought conditions. The stock is trading above its 30-day MA of
$198.47 and 50-day MA of
$195.21, suggesting bullish sentiment.
Directional Bias: The recent high of
$211.23 indicates potential resistance, while the 60-day low of
$173.33 provides a solid support base. The current price is near the high end of this range, and the upward trend supported by moving averages suggests further upside potential.
Trade Plan:
- Suggested Entry:
$210.8
- Stop Loss:
$204.0 (risking
$6.8)
- Take Profit Targets:
1.
$215.0 (2% gain)
2.
$220.0 (4.5% gain)
3.
$246.0 (17% gain)
This plan targets a minimum of 17% ROI on the third take profit. Monitor the trade closely, especially with the RSI nearing overbought levels.
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