Nov. 13 at 1:20 AM
Trade Plan for
$RDDT:
Market Context:
$RDDT is currently trading at
$207.59, above its 30-day moving average (MA30) of
$202.44, indicating short-term bullish momentum. The relative strength index (RSI) at 54.12 suggests the asset is neither overbought nor oversold, allowing for potential upward movement.
Directional Bias: The price is positioned between the 60-day high of
$282.95 and the low of
$173.56, indicating a significant range. The 50-day moving average (MA50) at
$220.4 is above the current price, suggesting resistance ahead. However, the current price above MA30 indicates short-term bullish sentiment.
Suggested Entry: Consider entering a long position at
$210.00 to capture upward momentum.
Stop: Place a stop-loss at
$195.00 to manage risk.
Targets: Set the first target at
$225.00 (near MA50) and a second target at
$240.00, aiming to capitalize on the upward potential within the established range.
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