Dec. 9 at 12:21 AM
$KNF Actionable Trade Alert:
Market Context:
$KNF is currently trading at
$74.22, with an RSI of 70.9 indicating it is in overbought territory. However, the price is above both the 30-day MA (69.62) and the 50-day MA (69.12), suggesting bullish momentum. The recent 60-day high of
$78.29 provides a potential resistance level.
Directional Bias: The bullish trend supported by the moving averages indicates a continuation pattern, despite the high RSI. The price is within a range between the 60-day high of
$78.29 and low of
$58.72, providing a clear trading range.
Suggested Trade Plan:
- Entry:
$74.50 (slightly above the last close)
- Stop Loss:
$72.50 (below recent support)
- Take Profit Targets:
1.
$76.00 (3.5% ROI)
2.
$77.50 (4.9% ROI)
3.
$87.00 (17.2% ROI)
This plan allows for a strong risk-reward ratio while capitalizing on the bullish trend. Monitor closely for any changes in momentum.
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