Dec. 6 at 3:31 AM
Actionable Trade Alert for
$MATX
Market Context:
$MATX is currently trading at
$113.8, nearing its 60-day high of
$116.11. The RSI at 69.5 indicates the stock is approaching overbought territory, suggesting caution. However, the price is above key moving averages (MA30 at 105.03 and MA50 at 101.54), indicating bullish momentum.
Directional Bias: The bullish trend is supported by the stock being above both the 30-day and 50-day moving averages. The proximity to the 60-day high suggests potential resistance but also indicates strong buyer interest.
Trade Plan:
- Entry:
$113.8
- Stop Loss:
$110.0 (approx. 3.5% below entry)
- Take Profit Targets:
- Target 1:
$116.0 (2% gain)
- Target 2:
$118.5 (4.8% gain)
- Target 3:
$133.0 (17% gain)
This plan offers a solid risk-reward ratio with a potential for over 17% ROI at the third target. Monitor RSI and price action closely for adjustments.
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