Dec. 11 at 10:30 PM
Actionable Trade Alert for
$QCOM
Market Context:
$QCOM is currently trading at
$179.08, showing strong momentum but an overbought condition with an RSI of 81.63. The price is above both the 30-day (MA30=172.14) and 50-day (MA50=170.58) moving averages, indicating bullish sentiment.
Directional Bias: The high of
$205.95 within the last 60 days suggests potential upside, while the low of
$153.35 provides a solid support level. The current price is significantly above the MA30 and MA50, reinforcing a bullish outlook, but caution is warranted due to the elevated RSI.
Trade Plan:
- Entry:
$179.50 (slightly above the last close)
- Stop Loss:
$173.00 (below the MA30 for safety)
- Take Profit Targets:
- Target 1:
$190.00 (6.1% gain)
- Target 2:
$200.00 (11.7% gain)
- Target 3:
$210.00 (17.3% gain)
This trade plan aims for a minimum of 17% ROI on the third target while managing risk effectively.
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