Dec. 8 at 11:37 PM
Actionable Trade Alert for
$RGEN:
Market Context:
$RGEN is currently trading at
$161.79, showing strong momentum with an RSI of 67.2, indicating it is nearing overbought conditions. However, the price remains above both the 30-day MA of
$156.37 and the 50-day MA of
$153.67, suggesting bullish sentiment in the short to medium term.
Directional Bias: The recent high of
$174.01 indicates potential upward movement, while the 60-day low of
$112.73 provides a solid support level. Given the current price and the proximity to the high, a cautious bullish approach is warranted.
Trade Plan:
- Suggested Entry:
$162.50
- Stop Loss:
$155.00 (4.7% below entry)
- Take Profit Targets:
1. Target 1:
$168.00 (3.1% gain)
2. Target 2:
$172.00 (5.8% gain)
3. Target 3:
$190.00 (16.8% gain)
This plan offers a potential ROI of over 17% at the third target while maintaining a reasonable risk-reward ratio.
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