Dec. 11 at 10:59 PM
Actionable Trade Alert for
$MDB:
Market Context:
$MDB closed at
$424.4, showing strong upward momentum. The RSI at 79.27 indicates that the stock is overbought, suggesting potential for a pullback. However, the price is well above both the 30-day (364.25) and 50-day (348.62) moving averages, indicating a bullish trend.
Directional Bias: The current price is near the 60-day high of 432.47, which could act as resistance. The bullish trend is supported by the moving averages, but the high RSI suggests caution.
Trade Plan:
- Suggested Entry:
$424.4
- Stop Loss:
$400 (approximately 5.7% below entry)
- Take Profit Targets:
1. Target 1:
$440 (3.7% gain)
2. Target 2:
$460 (8.4% gain)
3. Target 3:
$500 (17.8% gain)
This plan offers a potential ROI of over 17% at target 3, with a manageable stop loss. Monitor the RSI for signs of reversal as you approach targets.
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