Dec. 19 at 5:29 PM
Actionable Trade Alert for
$MATX:
Market Context:
$MATX closed at
$127.54, showing strong momentum with an RSI of 87.04, indicating it is overbought. However, the price is near the 60D high of
$129.48, suggesting potential resistance ahead.
Directional Bias: The bullish sentiment is supported by the MA30 at
$112.04 and MA50 at
$105.34, indicating a strong upward trend. The price is well above these moving averages, but the high RSI signals caution for short-term entries.
Trade Plan:
- Suggested Entry:
$126.00 (slightly below the last close to capture potential pullback)
- Stop Loss:
$123.00 (3% below entry to manage risk)
- Take Profit Targets:
1.
$130.00 (3.9% gain)
2.
$134.00 (6.3% gain)
3.
$149.00 (17% gain)
With the potential for a significant return on the third target, this trade offers a favorable risk-reward ratio. Monitor the RSI closely for signs of reversal.
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