Dec. 10 at 3:33 AM
Actionable Trade Alert for
$LECO:
Market Context:
$LECO is currently trading at
$238.31, showing strength but with an RSI of 73.81, indicating overbought conditions. The price is above both the 30-day MA (232.77) and the 50-day MA (234.51), suggesting bullish momentum, yet caution is warranted due to potential pullbacks.
Directional Bias: The high of
$247.42 from the last 60 days provides a resistance level, while the low of
$216.22 indicates support. Given the current price proximity to the 60D high, we anticipate a possible retracement before further upward movement.
Trade Plan:
- Suggested Entry:
$238.31
- Stop Loss:
$232.00 (below the 30-day MA)
- Take Profit Targets:
1.
$242.00 (1.5% ROI)
2.
$245.00 (2.8% ROI)
3.
$279.00 (17% ROI)
Monitor the RSI and MA for signs of reversal or continuation. Adjust stop loss to protect profits as targets are met.
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