Dec. 6 at 3:09 AM
Actionable Trade Alert for
$MCY:
Market Context:
$MCY is currently trading at
$90.11, showing strength as it approaches its 60-day high of
$95.00. The RSI at 61.82 indicates bullish momentum, suggesting potential for further upside. The moving averages (MA30 at 85.58 and MA50 at 84.26) confirm a positive trend, as the price is above both MAs.
Directional Bias: Given the current RSI and the position above the moving averages, the directional bias is bullish. The stock is well-positioned within its recent high-low range, suggesting a breakout potential.
Trade Plan:
- Suggested Entry:
$90.50 (slightly above the current close to confirm momentum)
- Stop Loss:
$88.00 (to limit downside risk)
- Take Profit Targets:
1.
$93.00 (3% gain)
2.
$95.00 (5% gain, testing the 60D high)
3.
$105.00 (16.5% gain, targeting a significant breakout)
This plan offers a potential ROI of over 17% on the third target.
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