Dec. 12 at 12:01 AM
$ONTO: The stock closed at
$160.08, currently showing a strong bullish momentum with an RSI of 81.36, indicating overbought conditions. The 30-day moving average (MA30) is at
$140.74 and the 50-day moving average (MA50) at
$138.20, suggesting a solid upward trend. The 60-day high is
$171.32, providing a resistance level, while the low is
$118.97, indicating a significant range.
Action Plan:
- Entry: Buy at
$160.08
- Stop Loss: Set at
$153.27 (approximately 4.2% below entry).
- Take Profit Targets:
1. Target 1:
$168.00 (5% gain)
2. Target 2:
$175.00 (9.3% gain)
3. Target 3:
$187.00 (16.8% gain)
Given the current metrics, the trade plan aims for a minimum of 17% ROI on the third target while managing risk with a tight stop loss. Monitor RSI for potential reversal signals.
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