Dec. 11 at 10:50 PM
Actionable Trade Alert for
$MPWR:
Market Context:
$MPWR is currently trading at
$969.34, showing strong upward momentum with an RSI of 80.58, indicating overbought conditions. However, the price is above the 30-day moving average (MA30) of
$945.9 and near the 50-day moving average (MA50) of
$969.73, suggesting potential for a pullback or consolidation.
Directional Bias: The high of
$1123.38 from the last 60 days provides a resistance level, while the low of
$833.18 indicates a solid support range. The current price is closer to the high, reinforcing a bullish sentiment but caution is advised due to the high RSI.
Trade Plan:
- Suggested Entry:
$970
- Stop Loss:
$950 (2% below entry)
- Take Profit Targets:
1.
$1020 (5.2% ROI)
2.
$1070 (10.4% ROI)
3.
$1130 (16.5% ROI)
This plan offers a potential ROI of over 17% on the third target while maintaining a manageable risk.
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