Dec. 6 at 2:29 AM
Actionable Trade Alert for
$NYT:
Market Context:
$NYT is currently trading at
$64.04, near its 60D high of
$65.33, indicating potential resistance. The RSI at 46.7 suggests the stock is neither overbought nor oversold, allowing for a balanced approach. The moving averages (MA30 at 61.44 and MA50 at 59.26) indicate a bullish trend as the price is above these averages.
Directional Bias: With the price above both the MA30 and MA50, there is a bullish bias. However, caution is warranted as the stock is approaching the 60D high, which could act as resistance.
Trade Plan:
- Suggested Entry:
$64.10
- Stop Loss:
$62.50 (1.5 ATR below entry)
- Take Profit Targets:
- Target 1:
$66.00 (2.96% ROI)
- Target 2:
$68.00 (6.14% ROI)
- Target 3:
$75.00 (17.11% ROI)
This trade plan provides a solid risk-reward ratio with a potential for over 17% ROI on the third target. Monitor the stock closely for any signs of reversal near resistance levels.
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