Dec. 12 at 12:34 AM
$PRM: Current market context shows a strong upward momentum, with the last close at
$29.09 and an RSI of 82.98 indicating overbought conditions. However, this high RSI suggests potential for a pullback or consolidation. The 30-day moving average (MA30) at
$26.44 and the 50-day moving average (MA50) at
$24.63 support a bullish trend, as both are below the current price.
Directional bias remains bullish but caution is advised due to the overbought RSI. Suggested entry point is at
$29.00, with a stop loss set at
$27.50 to manage risk.
Take Profit Targets:
1. TP1:
$30.00 (3.1% gain)
2. TP2:
$31.50 (8.3% gain)
3. TP3:
$34.00 (16.5% gain)
Target 3 offers a potential ROI of over 17%. Monitor price action closely, as the 60-day high is
$29.56, indicating a resistance level to watch.
Trade Plan: Enter at
$29.00, stop at
$27.50, targets at
$30.00,
$31.50, and
$34.00.
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