Dec. 6 at 2:54 AM
Actionable Trade Alert for
$OBDC:
Market Context:
$OBDC closed at
$13.45, showing strong momentum with an RSI of 88.21, indicating overbought conditions. The stock is trading above its 30-day MA of
$12.65 and 50-day MA of
$12.68, suggesting a bullish trend. The 60-day high of
$14.31 presents a potential resistance level, while the low of
$11.65 indicates solid support.
Directional Bias: Given the high RSI, a pullback may occur, but the overall trend remains bullish. The proximity to the 60-day high suggests potential upward movement if momentum continues.
Trade Plan:
- Suggested Entry:
$13.50
- Stop Loss:
$12.90 (4.45% risk)
- Take Profit Targets:
1. Target 1:
$14.00 (3.70% gain)
2. Target 2:
$14.20 (5.19% gain)
3. Target 3:
$15.75 (17.08% gain)
This trade plan offers a risk/reward ratio favorable for capturing potential upside while managing risk effectively.
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