Dec. 11 at 11:57 PM
Actionable Trade Alert for
$OMF:
Market Context:
$OMF is currently trading at
$69.38, near its 60D high of
$69.42, indicating strong upward momentum. The RSI of 95.02 suggests that the stock is overbought, which could lead to a pullback. However, the strong bullish trend remains intact given the proximity to the highs.
Directional Bias: The stock shows a bullish bias supported by the MA30 (61.24) and MA50 (58.94), both well below the current price. The recent high-low range (60D High: 69.42, Low: 52.09) indicates significant upward potential.
Trade Plan:
- Suggested Entry:
$69.00
- Stop Loss:
$67.00 (risking
$2.00)
- Take Profit Targets:
1.
$72.00 (Target 1: 4.3% ROI)
2.
$75.00 (Target 2: 8.4% ROI)
3.
$81.00 (Target 3: 16.8% ROI)
With a potential 16.8% ROI on Target 3, this trade presents a favorable risk-reward scenario. Monitor RSI for signs of reversal before entry.
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