Dec. 6 at 2:04 AM
$KEY: The current market context shows a strong bullish momentum, with the last close at
$19.11 and an RSI of 72.24 indicating overbought conditions. The price is above the 30-day (MA30) and 50-day (MA50) moving averages, which are at
$17.83 and
$17.91 respectively, reinforcing the bullish trend. The 60-day high of
$19.35 is just above the current price, suggesting potential resistance.
Actionable Trade Plan:
- Suggested Entry:
$19.11
- Stop Loss:
$18.50 (approx. 3.2% below entry)
- Take Profit Targets:
- Target 1:
$19.50 (2% gain)
- Target 2:
$20.00 (4.7% gain)
- Target 3:
$22.40 (17% gain)
With the ATR at
$0.42, this trade has a favorable risk-reward ratio. Monitor the price action closely, as a break above
$19.35 could trigger further buying momentum.
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