Dec. 8 at 11:22 PM
Actionable Trade Alert:
$PCOR
Market Context:
$PCOR is currently trading at
$77.75, showing strong momentum with an RSI of 70.89, indicating overbought conditions. The price is above both the 30-day MA (74.62) and the 50-day MA (73.81), suggesting bullish sentiment. However, the proximity to the 60-day high of
$82.32 indicates potential resistance.
Directional Bias: Given the RSI and the recent price action, we expect a short-term pullback before a potential continuation upward. The high-low range of the last 60 days (68.8 to 82.32) provides a solid framework for our targets.
Trade Plan:
- Suggested Entry:
$76.50 (anticipating a pullback)
- Stop Loss:
$74.00 (to limit downside risk)
- Take Profit Targets:
1.
$80.00 (4.8% ROI)
2.
$81.50 (6.7% ROI)
3.
$91.00 (17% ROI)
This plan allows for a strategic entry with defined risk and reward parameters. Monitor the price action closely for adjustments.
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