Dec. 12 at 12:47 AM
Actionable Trade Alert for
$MGEE:
Market Context:
$MGEE closed at
$79.21, currently trading below both the 30-day MA (81.76) and 50-day MA (82.89), indicating a bearish trend. The RSI at 41.42 suggests the stock is nearing oversold territory, which could signal a potential reversal.
Directional Bias: Given the current price is closer to the 60D low of
$77.46, there is potential for a bounce back. However, the stock remains below key moving averages, indicating a cautious approach is warranted.
Trade Plan:
- Suggested Entry:
$79.50 (slightly above the last close to confirm upward momentum)
- Stop Loss:
$77.00 (below the 60D low for risk management)
- Take Profit Targets:
- TP1:
$82.00 (approx. 3.1% gain)
- TP2:
$84.00 (approx. 5.5% gain)
- TP3:
$92.00 (approx. 16.1% gain)
This plan provides a potential ROI of over 17% at TP3. Monitor closely for market conditions.
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