Dec. 15 at 6:44 AM
$PEGA Actionable Trade Alert:
Market Context:
$PEGA is currently trading at
$59.63, showing strong momentum but is in overbought territory with an RSI of 72.32. The stock is above its 30-day MA of
$57.74 and 50-day MA of
$58.14, indicating bullish sentiment. However, the high of
$68.1 in the last 60 days suggests potential resistance ahead.
Directional Bias: Given the RSI indicates overbought conditions, a pullback may occur. However, the stock's position above key moving averages supports a bullish outlook in the short term.
Trade Plan:
- Suggested Entry:
$59.63
- Stop Loss:
$57.00 (approximately 4.4% below entry)
- Take Profit Targets:
1.
$63.00 (Target 1, 5.9% ROI)
2.
$66.00 (Target 2, 10.5% ROI)
3.
$69.00 (Target 3, 15.6% ROI)
Target 3 aligns with a potential 17% ROI if the stock breaks the recent high. Monitor price action closely for adjustments.
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