Dec. 8 at 10:29 PM
Actionable Trade Alert for
$MCO:
Market Context:
$MCO closed at
$486.72, showing strong momentum with an RSI of 64.03, indicating it is nearing overbought territory. The price is above both the 30-day MA of
$484.58 and the 50-day MA of
$483.11, suggesting bullish sentiment. The 60-day high of
$517.13 presents a potential resistance level, while the low of
$466.19 establishes a solid support base.
Directional Bias: Given the current price action and moving averages, the bias is bullish. The RSI is elevated but not excessively high, indicating room for further upside before a correction.
Trade Plan:
- Suggested Entry:
$487.00
- Stop Loss:
$479.00 (approximately 1.6% below entry)
- Take Profit Targets:
1.
$500.00 (2.7% ROI)
2.
$510.00 (4.7% ROI)
3.
$570.00 (17.1% ROI)
This plan provides a balanced risk-reward ratio, leveraging the current bullish trend while managing potential downside risk.
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