Dec. 6 at 2:12 AM
Actionable Trade Alert for
$RGLD:
Market Context:
$RGLD is currently trading at
$203.11, showing strength but nearing overbought conditions with an RSI of 66.63. The 60-day high of
$209.42 indicates potential resistance, while the low of
$168.88 provides a solid support base.
Directional Bias: The price is above both the 30-day MA (185.89) and the 50-day MA (190.46), suggesting a bullish trend. However, the high RSI indicates caution as it approaches overbought territory.
Trade Plan:
- Suggested Entry:
$203.50 (slightly above current close)
- Stop Loss:
$197.23 (below recent support)
- Take Profit Targets:
1.
$208.00 (2.5% gain)
2.
$212.00 (4.3% gain)
3.
$238.00 (17.1% gain)
This plan offers a favorable risk-reward ratio, targeting significant upside while managing risk effectively.
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