Dec. 8 at 11:36 PM
Actionable Trade Alert for
$PLNT:
Market Context:
$PLNT closed at
$109.69, nearing its 60D high of
$113.12. The stock is currently in a bullish trend, supported by an RSI of 69.55, indicating potential overbought conditions but also strong momentum. The MA30 at
$103.33 and MA50 at
$100.9 suggest a solid upward trend, providing support levels.
Directional Bias: Given the current price near the 60D high and strong moving averages, we maintain a bullish bias. However, the RSI indicates caution as it approaches overbought territory.
Trade Plan:
- Suggested Entry:
$109.00
- Stop Loss:
$106.00 (approximately 2.7% risk)
- Take Profit Targets:
- Target 1:
$112.00 (2.8% gain)
- Target 2:
$115.00 (5.0% gain)
- Target 3:
$128.00 (16.6% gain)
This plan offers a potential ROI of over 17% on Target 3, making it an attractive trade setup. Monitor closely for any signs of reversal.
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