Dec. 6 at 2:26 AM
$MP Actionable Trade Alert:
Market Context: The last close at
$61.8 indicates a bullish sentiment as it is above the 30-day moving average (MA30) of
$60.4 but below the 50-day moving average (MA50) of
$66.95. The RSI at 55.64 suggests a neutral to slightly bullish momentum, indicating room for upward movement.
Directional Bias: Given the current price is closer to the 60-day low of
$50.5 and the bullish positioning relative to MA30, the outlook remains positive. The ATR of 4.33 indicates moderate volatility, allowing for reasonable price movement.
Trade Plan:
- Suggested Entry:
$62.0
- Stop Loss:
$57.0 (approx. 8% below entry)
- Take Profit Targets:
- Target 1:
$66.0 (approx. 6.5% gain)
- Target 2:
$70.0 (approx. 12.9% gain)
- Target 3:
$72.5 (approx. 17% gain)
This plan allows for a structured approach to capitalize on potential upward momentum while managing risk effectively.
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