Dec. 11 at 10:36 PM
Actionable Trade Alert for
$MCK:
Market Context:
$MCK is currently trading at
$810.93, with an RSI of 38.8 indicating potential oversold conditions. The price is below both the 30-day moving average (MA30) of
$841.29 and the 50-day moving average (MA50) of
$815.96, suggesting bearish momentum. However, the recent low of
$687.68 presents a significant support level, providing a potential reversal opportunity.
Directional Bias: With the RSI below 40, there is a chance for a bullish rebound as it approaches oversold territory. The proximity to the 60-day high of
$895.58 indicates room for upward movement.
Suggested Trade Plan:
- Entry:
$810.93
- Stop Loss:
$787.55 (3% below entry)
- Take Profit Targets:
1.
$850.00 (4.7% gain)
2.
$875.00 (7.9% gain)
3.
$950.00 (17.2% gain)
This plan offers a solid risk-reward ratio with potential for over 17% ROI on the third target.
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