Dec. 12 at 12:40 AM
Actionable Trade Alert for
$PATK:
Market Context:
$PATK is currently trading at
$115.28, showing strong bullish momentum indicated by an RSI of 85.9, suggesting overbought conditions. The stock is above its 30-day moving average (MA30) of
$105.06 and 50-day moving average (MA50) of
$103.12, reinforcing a bullish trend. The 60-day high is
$116.02, indicating potential resistance.
Directional Bias: Given the high RSI and proximity to the 60D high, a pullback may occur, but the overall trend remains bullish.
Trade Plan:
- Suggested Entry:
$115.50 (slightly above the last close)
- Stop Loss:
$111.52 (below recent support, calculated as
$115.28 - 1 ATR)
- Take Profit Targets:
1.
$118.00 (2.35% gain)
2.
$120.00 (3.75% gain)
3.
$135.00 (17.15% gain)
This plan allows for a significant ROI on the third target while managing risk effectively. Monitor closely for price action around the targets.
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