Dec. 6 at 2:09 AM
Actionable Trade Alert for
$MEDP:
Market Context:
$MEDP is currently trading at
$544.77, showing a bearish sentiment with an RSI of 31.24, indicating potential oversold conditions. The price is below both the 30-day MA of 591.6 and the 50-day MA of 564.36, suggesting a downward trend. However, the proximity to the 60-day low of 474.92 presents a potential reversal opportunity.
Directional Bias: Despite the bearish indicators, the oversold RSI suggests a possible bounce. The price is near the lower end of its 60-day range, which could attract buyers.
Trade Plan:
- Suggested Entry:
$545
- Stop Loss:
$520 (4.6% below entry)
- Take Profit Targets:
- TP1:
$570 (4.4% gain)
- TP2:
$600 (10.0% gain)
- TP3:
$640 (17.4% gain)
Rationale: The targets are set based on resistance levels and the potential for recovery. The risk-reward ratio is favorable, with TP3 offering over 17% ROI.
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