Dec. 10 at 4:42 AM
$PTRN Actionable Trade Alert:
Market Context:
$PTRN is currently trading at
$12.63, significantly below its 60-day high of
$20.1, indicating a potential rebound opportunity. The RSI at 24.2 suggests that the stock is oversold, signaling a possible reversal.
Directional Bias: Bearish sentiment has prevailed, but with the RSI indicating extreme oversold conditions, a bullish reversal is likely. The stock is also below both the 30-day MA (15.92) and the 50-day MA (15.32), providing a potential entry point for a recovery trade.
Trade Plan:
- Suggested Entry:
$12.70 (slightly above the last close)
- Stop Loss:
$11.80 (below recent lows for risk management)
- Take Profit Targets:
1.
$14.00 (target 1, 10.4% ROI)
2.
$15.00 (target 2, 18.4% ROI)
3.
$14.80 (target 3, 17.2% ROI)
This plan offers a solid risk-reward ratio, with the potential for over 17% ROI on the third target. Monitor closely for price action around key levels.
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