Dec. 11 at 11:16 PM
Actionable Trade Alert for
$MKC:
Market Context:
$MKC closed at
$66.24, showing a neutral RSI at 43.7, indicating potential for upward movement as it approaches oversold conditions. The stock is currently trading above its 30-day MA of
$65.28 and 50-day MA of
$65.86, suggesting a bullish bias.
Directional Bias: The 60-day high of
$69.13 provides a resistance level, while the low of
$62.64 indicates support. With the current price near the middle of this range, there is room for upward movement.
Trade Plan:
- Suggested Entry:
$66.50 (slightly above the last close to confirm upward momentum).
- Stop Loss:
$64.50 (to limit risk below recent support).
- Take Profit Targets:
1.
$68.00 (2.26% gain)
2.
$69.00 (3.41% gain)
3.
$77.50 (17% gain)
This plan allows for a solid risk-reward ratio with a potential 17% ROI on the third target.
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