Dec. 10 at 4:41 AM
Actionable Trade Alert for
$MLYS:
Market Context:
$MLYS is currently trading at
$36.73, significantly below its 60-day high of
$47.65, indicating potential for a rebound. The RSI at 18.41 suggests that the stock is oversold, which may lead to a price correction. The moving averages (MA30 at 41.22 and MA50 at 41.09) further support a bullish outlook as the stock is trading below these averages.
Directional Bias: Given the oversold RSI and proximity to the 60-day low of
$33.63, we anticipate a bullish reversal.
Trade Plan:
- Suggested Entry:
$36.73
- Stop Loss:
$34.50 (approx. 6% below entry)
- Take Profit Targets:
1.
$40.00 (target 1, approx. 8.3% ROI)
2.
$43.00 (target 2, approx. 17.5% ROI)
3.
$43.00 (target 3, approx. 17.5% ROI)
This plan offers a potential ROI of over 17% at target 3 while managing risk effectively.
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