Dec. 19 at 4:04 PM
Actionable Trade Alert for
$LUV:
Market Context:
$LUV is currently trading at
$40.73, showing strong momentum with an RSI of 83.33, indicating overbought conditions. The stock is above its 30-day MA of 35.6 and 50-day MA of 34.19, suggesting bullish sentiment. However, the high RSI signals potential for a pullback, so caution is warranted.
Directional Bias: Given the high RSI and proximity to the 60D high of
$43.54, we anticipate a possible retracement before a breakout. The 60D low of
$29.26 provides a solid reference for support.
Trade Plan:
- Suggested Entry:
$40.73
- Stop Loss:
$39.00 (1.73 below entry, ~4.25% risk)
- Take Profit Targets:
- TP1:
$42.00 (3.12% gain)
- TP2:
$43.00 (5.88% gain)
- TP3:
$47.50 (16.67% gain)
With a potential ROI of over 17% on TP3, this trade offers a favorable risk-reward ratio. Monitor closely for price action.
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