Dec. 6 at 1:46 AM
Actionable Trade Alert for
$ONC:
Market Context:
$ONC is currently trading at
$331.4, with an RSI of 29.42 indicating it is oversold. The stock is near its 60D low of
$306.0, suggesting potential for a rebound. The MA30 at
$334.72 and MA50 at
$332.67 are close to the current price, indicating resistance levels.
Directional Bias: Given the oversold RSI and proximity to the 60D low, we anticipate a bullish reversal. The ATR of 14.19 suggests volatility, which can provide trading opportunities.
Trade Plan:
- Suggested Entry:
$331.4
- Stop Loss:
$320.0 (3.9% below entry)
- Take Profit Targets:
- Target 1:
$340.0 (2.6% gain)
- Target 2:
$350.0 (5.6% gain)
- Target 3:
$388.0 (17% gain)
This plan allows for a favorable risk-reward ratio, aiming for a significant ROI on the third target. Monitor market conditions closely.
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