Dec. 17 at 2:11 AM
Actionable Trade Alert for
$MMM:
Market Context:
$MMM is currently trading at
$163.66, showing weakness with an RSI of 34.54, indicating potential oversold conditions. The stock is below its 30-day moving average (MA30) of
$167.57 and its 50-day moving average (MA50) of
$164.5, suggesting bearish sentiment. However, the recent low of
$148.46 indicates a support level, providing a potential reversal opportunity.
Directional Bias: Given the oversold RSI and proximity to the 60D low, we anticipate a bullish reversal towards the MA30.
Suggested Entry: Buy at
$164.00.
Stop Loss: Set at
$160.00 (risking
$4.00).
Take Profit Targets:
1.
$168.00 (Target 1: 2.44% ROI)
2.
$172.00 (Target 2: 4.88% ROI)
3.
$192.00 (Target 3: 17.36% ROI)
This trade plan capitalizes on the potential rebound while maintaining a favorable risk-reward ratio.
For more insights, visit https://privateprofiteers.com.
https://privateprofiteers.com
