Dec. 12 at 12:21 AM
Actionable Trade Alert for
$NJR
Market Context:
$NJR is currently trading at
$46.04, showing a bearish sentiment as indicated by an RSI of 35.71, suggesting oversold conditions. The stock is near its 60D low of
$43.46, providing a potential reversal opportunity.
Directional Bias: The stock is slightly below its 30-day and 50-day moving averages (both at
$46.11), indicating short-term weakness. However, the proximity to the 60D low suggests a potential bounce back.
Suggested Trade Plan:
- Entry:
$46.04
- Stop Loss:
$44.50 (3.3% below entry)
- Take Profit Targets:
- Target 1:
$47.50 (3.2% gain)
- Target 2:
$48.50 (6.3% gain)
- Target 3:
$54.00 (17.3% gain)
This trade plan offers a favorable risk-reward ratio, with potential for significant upside if the stock reverses from its current oversold condition.
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