Dec. 10 at 3:48 AM
Actionable Trade Alert for
$MORN:
Market Context:
$MORN closed at
$215.09, showing a strong position relative to its recent high of
$252.24 and low of
$202.89. The RSI at 62.68 indicates a bullish momentum, but nearing overbought territory.
Directional Bias: The price is above the 30-day MA of
$213.69, suggesting a bullish trend. However, it is below the 50-day MA of
$217.28, indicating potential resistance. The ATR of 4.55 suggests moderate volatility, providing room for price movement.
Trade Plan:
- Suggested Entry:
$216.00
- Stop Loss:
$210.00 (3% below entry)
- Take Profit Targets:
1.
$225.00 (4.16% ROI)
2.
$235.00 (8.80% ROI)
3.
$252.00 (16.75% ROI)
This plan provides a solid risk-reward ratio, with the third target offering a return of 16.75%, closely aligning with the desired 17% ROI. Monitor price action closely around the MA50 for potential adjustments.
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