Dec. 12 at 12:39 AM
Actionable Trade Alert for
$PLMR:
Market Context:
$PLMR is currently trading at
$122.5, showing a neutral RSI at 51.87, indicating no immediate overbought or oversold conditions. The stock is above its 30-day moving average (MA30) of
$122.3, suggesting a bullish short-term trend. The 50-day moving average (MA50) at
$119.5 further supports this bullish outlook as the price is above this level as well.
Directional Bias: The price is near the 60-day high of
$134.5, indicating potential upward momentum. The ATR of 3.81 suggests moderate volatility, allowing for reasonable price movement.
Trade Plan:
- Suggested Entry:
$123.00
- Stop Loss:
$118.50 (approximately 3.5% below entry)
- Take Profit Targets:
1.
$128.00 (4.07% ROI)
2.
$132.00 (7.31% ROI)
3.
$143.00 (16.83% ROI)
This trade plan offers a solid risk-reward ratio with a potential for over 17% ROI on the third target. Monitor price action closely and adjust stop-loss accordingly.
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