Dec. 15 at 6:07 AM
Actionable Trade Alert for
$MTB:
Market Context: Currently,
$MTB is experiencing strong bullish momentum, indicated by an RSI of 80.65, which suggests overbought conditions. However, the price is still below the 60D high of
$207.29, indicating potential for upward movement.
Directional Bias: The price is above both the MA30 (
$189.62) and MA50 (
$187.49), suggesting a strong upward trend. The recent high-low range supports further upside potential.
Trade Plan:
- Suggested Entry:
$203.84 (last close)
- Stop Loss:
$197.00 (approx. 3.7% below entry)
- Take Profit Targets:
1. Target 1:
$210.00 (approx. 3% gain)
2. Target 2:
$215.00 (approx. 5.5% gain)
3. Target 3:
$239.00 (approx. 17% gain)
This trade plan aims for a minimum of 17% ROI on the third target while maintaining a reasonable risk-reward ratio. Monitor RSI and price action closely for adjustments.
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