Dec. 25 at 1:30 PM
Actionable Trade Alert for
$NKE:
Market Context: Currently,
$NKE is trading at
$60.0, which is near the lower end of its 60-day range (high of
$76.97 and low of
$56.99). The RSI of 36.47 indicates that the stock is in oversold territory, suggesting potential for a rebound. Additionally, both the 30-day MA (63.87) and the 50-day MA (64.53) are above the current price, indicating bearish pressure but also potential resistance levels for future gains.
Directional Bias: Given the oversold RSI and proximity to the 60D low, there is a bullish bias for a potential reversal.
Suggested Trade Plan:
- Entry:
$60.50
- Stop Loss:
$56.50 (3.33% below entry)
- Take Profit Targets:
1.
$64.00 (5.76% ROI)
2.
$68.00 (12.57% ROI)
3.
$71.00 (17.57% ROI)
This plan provides a clear risk-reward ratio with a potential 17%+ return on the third target. Monitor closely for market conditions.
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