Dec. 12 at 12:17 AM
$MAC Actionable Trade Alert:
Market Context:
$MAC is currently trading at
$18.4, showing strong momentum with an RSI of 79.57, indicating overbought conditions. The stock is above its 30-day MA of 17.3 and 50-day MA of 17.35, suggesting bullish sentiment. However, the high RSI signals a potential pullback.
Directional Bias: Despite the overbought RSI, the stock is near its 60D high of
$18.57, creating a bullish outlook. Watch for a potential retracement as it approaches this resistance level.
Trade Plan:
- Suggested Entry:
$18.4
- Stop Loss:
$17.9 (1.35% below entry)
- Take Profit Targets:
- Target 1:
$18.8 (2.17% gain)
- Target 2:
$19.0 (3.26% gain)
- Target 3:
$21.5 (17.07% gain)
Rationale: Target 3 aims for a significant ROI while considering the current price action and historical highs. Monitor RSI for any signs of reversal.
For more insights, visit https://privateprofiteers.com.
https://privateprofiteers.com