Dec. 11 at 10:37 PM
Actionable Trade Alert for
$NKE:
Market Context:
$NKE is currently trading at
$66.71, showing strong momentum but is at risk of overbought conditions with an RSI of 70.32. The stock is above its 30-day MA of
$63.68 and 50-day MA of
$65.65, indicating bullish sentiment. However, the proximity to the 60-day high of
$76.97 suggests potential resistance.
Directional Bias: The RSI indicates overbought conditions, which may lead to a pullback. The stock's position above its moving averages supports a bullish outlook, but caution is warranted given the high RSI.
Trade Plan:
- Suggested Entry:
$66.71
- Stop Loss:
$64.00 (below the 30-day MA)
- Take Profit Targets:
1.
$70.00 (5% gain)
2.
$73.00 (9.5% gain)
3.
$78.00 (17% gain)
This plan allows for a strategic entry while managing risk effectively. Monitor the stock closely for any signs of reversal.
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