Dec. 19 at 4:29 PM
Actionable Trade Alert for
$PSN:
Market Context:
$PSN is currently trading at
$60.55, significantly below its 60D high of
$89.5, indicating potential for upward movement. The RSI at 16.7 signals that the stock is oversold, suggesting a possible reversal. The moving averages (MA30 at 77.01 and MA50 at 79.7) indicate a bearish trend, but the extreme RSI suggests it may be due for a correction.
Directional Bias: Given the oversold condition and proximity to the 60D low of
$60.0, we anticipate a bullish reversal in the near term.
Trade Plan:
- Suggested Entry:
$60.55
- Stop Loss:
$58.00 (approximately 4.2% risk)
- Take Profit Targets:
1.
$65.00 (7.5% ROI)
2.
$70.00 (15.6% ROI)
3.
$71.00 (17.3% ROI)
This plan provides a solid risk-reward ratio, capitalizing on the potential price recovery while managing risk effectively.
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