Dec. 10 at 2:56 AM
Actionable Trade Alert for
$PEG:
Market Context:
$PEG closed at
$79.33, currently trading below its 30-day (81.59) and 50-day (82.05) moving averages, indicating bearish sentiment. The RSI at 35.1 suggests it is nearing oversold territory, which may lead to a potential reversal.
Directional Bias: Given the current RSI and proximity to the 60-day low of
$78.71, there is a potential for a bounce back towards the moving averages. The ATR of 1.46 indicates moderate volatility, allowing for reasonable price movement.
Trade Plan:
- Suggested Entry:
$79.50 (slightly above the last close to confirm upward momentum)
- Stop Loss:
$78.00 (below the 60-day low to manage risk)
- Take Profit Targets:
1.
$82.00 (targeting a 3.1% gain)
2.
$84.00 (targeting a 5.5% gain)
3.
$93.00 (targeting a 17.3% gain)
This plan offers a clear risk-reward ratio with potential for significant upside. Monitor price action closely.
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