Dec. 6 at 1:19 AM
Actionable Trade Alert for
$JNJ:
Market Context:
$JNJ is currently trading at
$202.48, showing strength but also signs of potential overbought conditions with an RSI of 70.6. The stock is above its 30-day MA of 196.0 and 50-day MA of 193.01, indicating a bullish trend. However, caution is warranted due to the high RSI.
Directional Bias: Given the current price is near the 60D high of
$207.81, there may be limited upside. The strong support is seen at the 30-day MA, while resistance is near the recent high.
Trade Plan:
- Suggested Entry:
$202.50
- Stop Loss:
$198.50 (approx. 2% below entry)
- Take Profit Targets:
1. Target 1:
$205.00 (1.23% ROI)
2. Target 2:
$208.00 (2.47% ROI)
3. Target 3:
$237.00 (17% ROI)
Monitor the price action closely. If the stock reverses below the 30-day MA, consider exiting.
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