Dec. 9 at 12:04 AM
Actionable Trade Alert for
$LPX:
Market Context:
$LPX closed at
$84.02, exhibiting strong momentum with an RSI of 87.8, indicating overbought conditions. However, its recent price action is near the 60D high of
$96.52, suggesting potential resistance ahead.
Directional Bias: The price is above the 30-day MA of
$81.13 and the 50-day MA of
$84.8, indicating a bullish trend. Yet, the high RSI suggests caution, as a correction could occur.
Trade Plan:
- Suggested Entry:
$84.02 (last close)
- Stop Loss:
$81.00 (below 30-day MA)
- Take Profit Targets:
- Target 1:
$88.00 (5% gain)
- Target 2:
$92.00 (9.5% gain)
- Target 3:
$98.00 (16.7% gain)
The third target offers a potential ROI of 17% or more, aligning with the market's high-low range. Monitor the RSI for signs of reversal as you approach targets.
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