Dec. 17 at 2:25 AM
Actionable Trade Alert for
$OKE:
Market Context:
$OKE closed at
$71.08, showing stability within its recent trading range. The RSI of 50.83 indicates a neutral momentum, suggesting potential for upward movement. The current price is near the 30-day MA of
$71.16, indicating a potential resistance point, while the 50-day MA at
$70.27 provides a support level.
Directional Bias: With the 60-day high at
$76.85 and low at
$64.02, there is a clear upward bias if the price breaks above resistance. The ATR of
$1.44 suggests moderate volatility, allowing for reasonable profit targets.
Trade Plan:
- Suggested Entry:
$71.50 (break above resistance)
- Stop Loss:
$69.50 (below 50-day MA)
- Take Profit Targets:
1.
$73.00 (3% gain)
2.
$75.00 (5% gain)
3.
$83.00 (17% gain)
This plan offers a strategic entry with a favorable risk-reward ratio. Monitor price action closely for adjustments.
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