Dec. 10 at 3:42 AM
Actionable Trade Alert for
$OVV:
Market Context:
$OVV is currently trading at
$41.43, showing strong momentum with an RSI of 64.56, indicating bullish sentiment but nearing overbought territory. The stock is above its 30-day (MA30) and 50-day (MA50) moving averages, which are at
$39.22 and
$38.79, respectively, suggesting a positive trend. The recent 60-day high of
$44.12 indicates potential resistance, while the low of
$35.47 provides a solid support level.
Directional Bias: Bullish, given the price action above key moving averages and the recent high.
Trade Plan:
- Suggested Entry:
$41.50
- Stop Loss:
$39.00 (approximately 6% below entry)
- Take Profit Targets:
1.
$43.00 (3.6% gain)
2.
$44.00 (6.0% gain)
3.
$48.50 (17% gain)
This plan offers a favorable risk-reward ratio with a potential 17% ROI on the third target. Monitor closely for any changes in momentum.
For more insights, visit https://privateprofiteers.com.
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