Dec. 19 at 3:32 PM
Actionable Trade Alert for
$PSX:
Market Context:
$PSX is currently trading at
$129.13, below both the 30-day MA of
$137.6 and the 50-day MA of
$135.69, indicating a bearish trend. The RSI at 36.04 suggests that the stock is nearing oversold conditions, which could lead to a potential reversal.
Directional Bias: Given the RSI and the proximity to the 60-day low of
$126.74, there is a possibility for a bullish bounce. However, caution is warranted due to the overall bearish trend indicated by the moving averages.
Trade Plan:
- Suggested Entry:
$129.50 (slightly above the last close to confirm upward momentum)
- Stop Loss:
$126.50 (below the 60-day low)
- Take Profit Targets:
1.
$135.00 (target 1, approx. 4.5% gain)
2.
$140.00 (target 2, approx. 8.4% gain)
3.
$151.00 (target 3, approx. 17% gain)
This plan provides a structured approach to capitalize on a potential reversal while managing risk effectively.
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