Dec. 25 at 2:02 PM
Actionable Trade Alert for
$RIVN:
Market Context:
$RIVN is currently trading at
$21.13, showing strong upward momentum. The RSI at 63.57 indicates bullish sentiment but is approaching overbought territory. The stock is above its 30-day MA of 17.45 and 50-day MA of 16.03, suggesting a strong trend.
Directional Bias: The price is near the 60-day high of 22.69, indicating potential resistance. However, the overall trend remains bullish given the price's position relative to the moving averages.
Trade Plan:
- Suggested Entry:
$21.20 (slightly above the last close to confirm momentum)
- Stop Loss:
$19.80 (below the recent support level)
- Take Profit Targets:
1.
$22.00 (3.77% gain)
2.
$22.50 (6.44% gain)
3.
$24.75 (17.57% gain)
This plan provides a clear risk-reward ratio with a potential return exceeding 17% on the third target. Monitor the RSI and adjust the stop loss as necessary to lock in profits.
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