Dec. 10 at 3:52 AM
Actionable Trade Alert for
$ONB:
Market Context:
$ONB is currently trading at
$22.20, showing strong momentum with an RSI of 78.14, indicating overbought conditions. The stock is above its 30-day MA of
$21.06 and 50-day MA of
$21.14, suggesting bullish sentiment. However, the high RSI signals potential for a pullback.
Directional Bias: Given the recent price action,
$ONB has reached a 60-day high of
$22.78, which could act as a resistance level. The price is currently near the upper range of its 60-day low of
$19.39, indicating a potential reversal or consolidation.
Trade Plan:
- Suggested Entry:
$22.20
- Stop Loss:
$21.50 (3.15% below entry)
- Take Profit Targets:
- Target 1:
$22.80 (2.70% gain)
- Target 2:
$23.50 (5.88% gain)
- Target 3:
$25.00 (12.57% gain, 17% ROI)
Monitor the RSI closely; a drop below 70 may indicate a better entry point.
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