Dec. 19 at 4:51 PM
$LB: Current market context shows a bearish sentiment with the last close at
$52.6, significantly below the 30-day MA of
$61.3 and the 50-day MA of
$59.45. The RSI at 39.5 indicates that the stock is nearing oversold territory, suggesting a potential reversal. The 60-day high of
$85.6 and low of
$48.78 further highlight the volatility and range potential.
Directional bias leans towards a bullish reversal given the RSI and proximity to the 60-day low. Suggested entry point is at
$53.5, with a stop loss set at
$50.5 to manage risk.
Take profit targets are set as follows:
1. TP1 at
$56.5 (5.6% gain)
2. TP2 at
$60.5 (12.5% gain)
3. TP3 at
$61.5 (16.8% gain)
This trade plan allows for a calculated risk-reward ratio, aiming for a substantial ROI on TP3. Monitor price action closely for confirmation.
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