Dec. 10 at 3:13 AM
$L: The current market context indicates a potential for upward movement given the last close at
$102.56, which is near the 60D low of
$95.71. The RSI at 39.21 suggests that the stock is approaching oversold territory, indicating a potential reversal. The MA30 at
$103.57 is slightly above the current price, while the MA50 at
$102.45 is just below, creating a tight range that could lead to a breakout.
Directional bias is bullish, supported by the proximity to the 60D low and the RSI indicating potential upward momentum.
Suggested entry:
$102.70, with a stop loss at
$100.50 (1.5 ATR below entry).
Take profit targets:
1.
$105.00 (2.23% ROI)
2.
$107.00 (4.29% ROI)
3.
$120.00 (17.00% ROI)
This trade plan offers a solid risk-reward ratio, capitalizing on the potential for a rebound while managing risk effectively.
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