Dec. 6 at 1:21 AM
$PM: Current market context shows a recent close at
$148.58, with an RSI of 38.3 indicating potential oversold conditions. The price is below both the 30-day moving average (MA30) of
$152.86 and the 50-day moving average (MA50) of
$155.00, suggesting bearish momentum. However, the stock is near the 60-day low of
$142.11, which could provide a strong support level for a rebound.
Directional bias leans towards a potential upward correction given the oversold RSI. Suggested entry is at
$149.00. Set a stop loss at
$144.00 to manage risk.
Take Profit Targets:
1. TP1 at
$155.00 (4% gain)
2. TP2 at
$160.00 (7.4% gain)
3. TP3 at
$173.00 (16.5% gain)
This plan allows for a minimum of 16.5% ROI on the third target while providing a structured approach to capitalize on a potential reversal.
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