Dec. 6 at 1:30 AM
Actionable Trade Alert for
$NKE:
Market Context:
$NKE is currently trading at
$65.69, positioned between its 60-day high of
$76.97 and low of
$60.29. The RSI at 48.56 indicates a neutral momentum, suggesting potential for upward movement as it approaches oversold conditions.
Directional Bias: The price is above the 30-day moving average (MA30) of
$64.18 but below the 50-day moving average (MA50) of
$66.18. This indicates a potential bullish reversal if it can break above the MA50, supported by the neutral RSI.
Trade Plan:
- Suggested Entry:
$66.00 (break above MA50)
- Stop Loss:
$64.00 (below MA30)
- Take Profit Targets:
1.
$70.00 (Target 1: 6.06% ROI)
2.
$73.00 (Target 2: 10.92% ROI)
3.
$77.00 (Target 3: 17.33% ROI)
This setup offers a favorable risk-reward ratio with a clear exit strategy. Monitor price action closely for entry confirmation.
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