Dec. 19 at 4:47 PM
$PRIM: Current market context shows a recent close at
$124.2, with an RSI of 47.43 indicating a neutral momentum. The price is below the 30-day moving average (MA30) of
$125.0 and significantly below the 50-day moving average (MA50) of
$130.17, suggesting a bearish trend in the short to medium term. However, the price is also above the 60-day low of
$112.1, indicating potential support.
Actionable Trade Plan:
- Suggested Entry:
$124.5
- Stop Loss:
$121.0 (approximately 2.8% risk)
- Take Profit Targets:
1.
$130.0 (Target 1: 4.4% ROI)
2.
$135.0 (Target 2: 8.6% ROI)
3.
$145.0 (Target 3: 16.7% ROI)
With the ATR at 6.4, volatility supports achievable targets. The directional bias remains cautiously optimistic if the price can break above the MA30. Monitor for upward momentum to reach targets.
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