Dec. 8 at 11:50 PM
$R: Current market context shows a strong upward trend, with the last close at
$186.46 and an RSI of 83.56 indicating overbought conditions. The price is above the 30-day MA of
$171.03 and the 50-day MA of
$175.81, reinforcing bullish sentiment. However, the high of
$195.48 suggests potential resistance ahead.
Directional bias remains bullish, but caution is advised due to the high RSI. Suggested entry is at
$186.50. Set a stop loss at
$182.00 to limit potential losses.
Take Profit Targets:
1. Target 1:
$190.00 (2% gain)
2. Target 2:
$192.50 (3.5% gain)
3. Target 3:
$200.00 (7.2% gain, 17% ROI)
Monitor the price action closely, especially as it approaches resistance levels. Adjust stop loss to breakeven after reaching Target 1 to secure profits.
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