Dec. 11 at 11:36 PM
Actionable Trade Alert for
$PNW:
Market Context:
$PNW is currently trading at
$87.12, showing bearish momentum with an RSI of 34.41, indicating potential oversold conditions. The price is below both the 30-day (88.68) and 50-day (89.93) moving averages, suggesting a downward trend. However, the proximity to the 60-day low of
$85.32 presents a potential reversal opportunity.
Directional Bias: Given the RSI and the current price action, a short-term bullish reversal is plausible, especially if it approaches the 60-day low.
Trade Plan:
- Suggested Entry:
$87.20
- Stop Loss:
$85.00 (2.52% below entry)
- Take Profit Targets:
1.
$89.00 (Target 1: 2.06% ROI)
2.
$90.50 (Target 2: 4.99% ROI)
3.
$102.00 (Target 3: 17% ROI)
This plan leverages the potential for a bounce from the recent low, with a clear risk-reward strategy. Monitor closely for market conditions.
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