Dec. 8 at 11:46 PM
Actionable Trade Alert for
$NEU:
Market Context:
$NEU is currently trading at
$764.61, showing bullish momentum as indicated by the RSI of 63.68, which suggests it is nearing overbought territory but still has room for upward movement. The price is above the 30-day moving average (MA30) of
$763.19, indicating short-term bullishness, while the 50-day moving average (MA50) of
$778.05 suggests potential resistance.
Directional Bias: Given the current price relative to the MA30 and MA50, along with the RSI reading, we maintain a bullish outlook. The recent high of
$875.97 presents a target for upside potential.
Trade Plan:
- Suggested Entry:
$765.00
- Stop Loss:
$746.00 (below the recent low of
$731.11)
- Take Profit Targets:
1.
$785.00 (2.6% gain)
2.
$810.00 (5.9% gain)
3.
$895.00 (17% gain)
This trade plan allows for a favorable risk-reward ratio while aiming for a substantial return.
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