Dec. 17 at 3:39 AM
Actionable Trade Alert for
$LEGN:
Market Context:
$LEGN is currently trading at
$21.65, significantly below its 60-day high of
$34.8, indicating potential for upward movement. The RSI at 16.77 suggests the stock is oversold, signaling a possible reversal.
Directional Bias: The stock is underperforming relative to its moving averages (MA30 at 27.91 and MA50 at 29.68), indicating bearish momentum. However, the extreme RSI level and proximity to the 60-day low of
$21.51 suggest a strong potential for a bounce back.
Trade Plan:
- Suggested Entry:
$21.70 (slightly above the last close)
- Stop Loss:
$21.50 (to limit downside risk)
- Take Profit Targets:
1. Target 1:
$24.00 (11% ROI)
2. Target 2:
$26.00 (20% ROI)
3. Target 3:
$25.40 (17% ROI)
With the potential for a rebound supported by the oversold RSI, this trade offers a favorable risk-reward setup. Monitor closely for market conditions.
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