Dec. 9 at 12:29 AM
Actionable Trade Alert for
$PSMT:
Market Context:
$PSMT is currently trading at
$125.35, showing strong momentum but is overbought with an RSI of 71.17. The price is above both the 30-day (MA30=120.09) and 50-day (MA50=120.84) moving averages, indicating bullish sentiment. However, the high of
$129.16 suggests a potential resistance level.
Directional Bias: The overbought RSI indicates a possible pullback, but the uptrend supported by MAs suggests a continuation of the bullish trend if the price can break the resistance.
Trade Plan:
- Suggested Entry:
$125.35
- Stop Loss:
$121.00 (approx. 3.5% below entry)
- Take Profit Targets:
1.
$128.00 (Target 1 - 2.6% ROI)
2.
$130.00 (Target 2 - 3.3% ROI)
3.
$147.00 (Target 3 - 17.3% ROI)
The third target offers a significant ROI, capitalizing on the bullish momentum while managing risk with a tight stop loss.
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