Dec. 15 at 5:34 AM
Actionable Trade Alert for
$JNJ:
Market Context:
$JNJ is currently trading at
$211.58, showing strong momentum with an RSI of 66.67, indicating it is nearing overbought territory. The recent price action is above both the 30-day MA (199.19) and 50-day MA (195.71), suggesting bullish sentiment. The 60-day high of
$212.27 is just above the current price, which may act as a resistance level.
Directional Bias: Given the RSI and the proximity to the 60D high, we expect a potential pullback or consolidation before further upward movement. However, the overall trend remains bullish.
Trade Plan:
- Suggested Entry:
$211.60
- Stop Loss:
$204.00 (approximately 3.5% below entry)
- Take Profit Targets:
1.
$215.00 (1.14% ROI)
2.
$218.00 (3.15% ROI)
3.
$220.00 (4.01% ROI)
To achieve at least a 17% ROI, consider leveraging options or increasing position size strategically. Monitor price action closely around the 60D high.
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