Dec. 8 at 11:43 PM
Actionable Trade Alert for
$LNC:
Market Context:
$LNC is currently trading at
$42.78, showing strong bullish momentum with an RSI of 81.06, indicating overbought conditions. However, this can still lead to further upside in the short term. The stock is above its 30-day MA of 40.89 and 50-day MA of 40.41, reinforcing a bullish trend.
Directional Bias: The high of
$43.21 within the last 60 days suggests potential resistance, while the low of
$37.99 indicates a solid support level. Given the strong RSI and proximity to the recent high, we anticipate a breakout.
Trade Plan:
- Suggested Entry:
$42.80
- Stop Loss:
$41.50 (3% below entry)
- Take Profit Targets:
1.
$43.50 (Target 1: 1.63% ROI)
2.
$44.00 (Target 2: 2.79% ROI)
3.
$50.00 (Target 3: 17.06% ROI)
This plan allows for a solid risk-reward ratio with the potential for significant upside. Monitor closely for price action around the targets.
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