Dec. 9 at 12:19 AM
Actionable Trade Alert for
$LGND:
Market Context:
$LGND is currently trading at
$187.48, below both the 30-day moving average (MA30) of
$197.59 and the 50-day moving average (MA50) of
$191.32. The RSI at 36.53 indicates that the stock is nearing oversold territory, suggesting potential for a rebound.
Directional Bias: Given the current price is closer to the 60D low of
$161.82 than the high of
$212.49, there is a bearish sentiment. However, the low RSI indicates a possible reversal opportunity.
Trade Plan:
- Suggested Entry:
$187.50
- Stop Loss:
$179.57 (1 ATR below entry)
- Take Profit Targets:
1.
$197.50 (Target 1: 5.4% ROI)
2.
$205.00 (Target 2: 9.3% ROI)
3.
$219.00 (Target 3: 16.8% ROI)
This plan offers a solid risk-reward ratio with a potential 17% ROI on the third target. Monitor closely for market conditions.
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