Dec. 8 at 11:27 PM
Actionable Trade Alert for
$MANH:
Market Context: Currently,
$MANH is trading at
$176.8, showing a strong upward trend but is approaching resistance levels based on the 30-day moving average (MA30) at
$177.06. The RSI of 64.87 indicates that the stock is nearing overbought territory, which may suggest a pullback or consolidation.
Directional Bias: The stock is in a bullish trend but caution is warranted due to the proximity to MA30 and the high of
$219.99 over the last 60 days. A breakout above MA30 could lead to further gains.
Trade Plan:
- Suggested Entry:
$177.50 (breakout above MA30)
- Stop Loss:
$172.00 (below recent support)
- Take Profit Targets:
1.
$185.00 (5% gain)
2.
$200.00 (12.5% gain)
3.
$207.00 (17% gain)
This trade plan offers a risk-reward ratio that aligns with the potential for significant returns, particularly with the third target achieving over 17% ROI. Monitor closely for market conditions and adjust as necessary.
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