Dec. 6 at 1:40 AM
Actionable Trade Alert for
$O:
Market Context: The last close for
$O was
$58.21, showing a strong bullish sentiment. The RSI at 68.33 indicates overbought conditions, suggesting a potential pullback, but it can also indicate continued strength if momentum persists. The stock is trading above both the 30-day MA (57.49) and the 50-day MA (58.4), reinforcing a bullish trend.
Directional Bias: Given the proximity to the 60D high of
$61.09, there's potential for upward movement, but caution is warranted due to the high RSI. The 60D low at
$55.95 provides a solid support level.
Trade Plan:
- Suggested Entry:
$58.50 (slightly above last close to confirm momentum)
- Stop Loss:
$57.50 (below the 30-day MA)
- Take Profit Targets:
1.
$60.00 (3% gain)
2.
$61.00 (4.5% gain)
3.
$68.00 (17% gain)
This plan allows for a strategic entry while managing risk effectively.
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