Dec. 6 at 3:37 AM
Actionable Trade Alert for
$NCNO:
Market Context:
$NCNO is currently trading at
$24.35, positioned near its 60D low of
$23.62, indicating potential for a reversal. The RSI at 39.32 suggests the stock is nearing oversold territory, which could lead to upward momentum. The moving averages (MA30 at
$25.43 and MA50 at
$25.58) indicate a bearish trend, but a bounce from the low could signal a shift.
Directional Bias: The stock shows potential for recovery given its proximity to the low and the RSI indicating oversold conditions.
Trade Plan:
- Suggested Entry:
$24.50
- Stop Loss:
$23.00 (approximately 6% risk)
- Take Profit Targets:
1.
$26.00 (Target 1, 6.1% ROI)
2.
$27.50 (Target 2, 12.5% ROI)
3.
$28.50 (Target 3, 17.6% ROI)
This plan provides a clear risk-reward structure, with a significant upside potential. Monitor for price action and adjust as necessary.
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