Dec. 5 at 10:05 PM
Actionable Trade Alert for
$OVV:
Market Context:
$OVV is currently trading at
$42.28, near its 60D high of
$44.12. The RSI at 68.48 indicates overbought conditions, suggesting a potential pullback or consolidation. However, the stock is above its 30-day and 50-day moving averages (both at 38.81), indicating bullish momentum.
Directional Bias: The overall trend is bullish due to the price being above key moving averages. However, caution is warranted given the high RSI, which may lead to short-term price corrections.
Trade Plan:
- Suggested Entry:
$42.28
- Stop Loss:
$40.00 (approximately 5.4% below entry)
- Take Profit Targets:
1. Target 1:
$44.00 (4.1% gain)
2. Target 2:
$45.00 (6.5% gain)
3. Target 3:
$49.50 (17.1% gain)
This plan allows for a strategic entry while managing risk effectively. Monitor the price action closely to adjust the stop loss as needed.
For more insights, visit https://privateprofiteers.com.
https://privateprofiteers.com
