Dec. 6 at 2:00 AM
Actionable Trade Alert for
$LH:
Market Context:
$LH is currently trading at
$261.48, showing bearish momentum as indicated by the RSI of 38.63, which suggests potential oversold conditions. The price is below both the 30-day MA (262.85) and the 50-day MA (270.04), reinforcing the bearish sentiment.
Directional Bias: The price is closer to the 60D low of
$244.52 than the high of
$293.72, indicating a potential for a rebound. However, caution is warranted due to the current bearish indicators.
Trade Plan:
- Suggested Entry:
$261.50
- Stop Loss:
$254.00 (risking approximately 2.85%)
- Take Profit Targets:
1.
$270.00 (Target 1, approx. 3.2% gain)
2.
$280.00 (Target 2, approx. 7.1% gain)
3.
$307.00 (Target 3, approx. 17.4% gain)
This plan allows for a strategic entry with a favorable risk-to-reward ratio. Monitor the price action closely as it approaches the targets.
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