Dec. 17 at 3:41 AM
Actionable Trade Alert for
$NOV:
Market Context:
$NOV is currently trading at
$15.32, showing a stable position within its recent range. The RSI at 53.73 indicates neutral momentum, suggesting potential for upward movement. The 60D high of
$16.96 provides a resistance level, while the low of
$12.29 offers support.
Directional Bias: The price is above the 30-day moving average (MA30) of
$15.5 and the 50-day moving average (MA50) of
$14.72, indicating a bullish bias. The upward trend is supported by the RSI, which is not in overbought territory.
Trade Plan:
- Suggested Entry:
$15.32
- Stop Loss:
$14.80 (approximately 3.4% risk)
- Take Profit Targets:
1. Target 1:
$16.00 (4.4% gain)
2. Target 2:
$16.50 (7.7% gain)
3. Target 3:
$17.00 (10.9% gain)
Achieving Target 3 offers a potential ROI of over 17%. Monitor the ATR of 0.5 for volatility adjustments.
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