Dec. 6 at 1:46 AM
Actionable Trade Alert for
$MLM:
Market Context:
$MLM is currently trading at
$618.78, showing a bullish trend supported by an RSI of 61.65, indicating upward momentum. The price is above the 30-day moving average (MA30) of
$611.61 and very close to the 50-day moving average (MA50) of
$618.77, suggesting strong support levels. The 60-day high of
$665.18 provides a potential target for upward movement.
Directional Bias: The current price action suggests a bullish bias, as the stock is trading near its recent highs and above key moving averages.
Trade Plan:
- Suggested Entry:
$620.00
- Stop Loss:
$605.00 (approx. 2.4% below entry)
- Take Profit Targets:
1. TP1:
$640.00 (approx. 3.2% ROI)
2. TP2:
$655.00 (approx. 5.6% ROI)
3. TP3:
$725.00 (approx. 17% ROI)
This trade plan capitalizes on the bullish momentum while managing risk effectively.
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