Dec. 25 at 1:29 PM
Actionable Trade Alert for
$NEM:
Market Context:
$NEM closed at
$104.73, near its 60D high of
$105.73, indicating strong bullish momentum. The RSI at 78.49 suggests overbought conditions, which may lead to a pullback. However, the price is above both the 30-day (93.05) and 50-day (90.04) moving averages, supporting a bullish outlook.
Directional Bias: The strong upward trend, supported by the moving averages, suggests a continuation of the bullish momentum despite the high RSI reading. The price is currently trading within a range defined by the 60D high and low (105.73 - 76.05).
Trade Plan:
- Suggested Entry:
$104.00 (anticipating a slight pullback)
- Stop Loss:
$100.00 (risking
$4.00)
- Take Profit Targets:
1.
$108.00 (+3.27% ROI)
2.
$110.00 (+5.97% ROI)
3.
$122.00 (+16.52% ROI)
This plan offers a potential ROI of over 17% on the third target while maintaining a reasonable risk-reward ratio.
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