Dec. 11 at 11:03 PM
Actionable Trade Alert for
$MKL:
Market Context:
$MKL is currently trading at
$2117.01, showing strong momentum with an RSI of 72.99, indicating overbought conditions. The price is above both the 30-day moving average (MA30) of
$2045.39 and the 50-day moving average (MA50) of
$1991.25, suggesting bullish sentiment. However, the high of
$2125.08 from the last 60 days indicates potential resistance.
Directional Bias: Given the high RSI and proximity to recent highs, we anticipate a pullback before further upward movement.
Trade Plan:
- Suggested Entry:
$2110.00
- Stop Loss:
$2080.00 (Risking
$30.00)
- Take Profit Targets:
1.
$2150.00 (Target 1: 1.89% ROI)
2.
$2180.00 (Target 2: 3.29% ROI)
3.
$2200.00 (Target 3: 3.93% ROI, 17% ROI on stop loss)
This plan allows for a calculated risk with potential for significant returns. Monitor closely for price action around targets.
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