Dec. 8 at 10:39 PM
Actionable Trade Alert for
$MPLX:
Market Context:
$MPLX is currently trading at
$55.73, near its 60D high of
$56.26, indicating bullish momentum. The RSI at 71.64 suggests that the stock is overbought, which may lead to a pullback. However, the strong upward trend is supported by the moving averages, with MA30 at
$52.78 and MA50 at
$51.42, indicating a healthy bullish sentiment.
Directional Bias: The stock shows a bullish bias, but caution is warranted due to the high RSI. A potential pullback could provide a better entry point.
Trade Plan:
- Suggested Entry:
$55.50 (considering a slight pullback)
- Stop Loss:
$53.50 (to limit potential losses)
- Take Profit Targets:
1.
$57.00 (4.5% gain)
2.
$58.00 (4.5% gain)
3.
$65.00 (16.7% gain)
With a well-placed stop loss and three targets, this trade plan offers a favorable risk-reward ratio, especially with the potential for over 17% ROI on the third target.
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