Dec. 6 at 2:55 AM
Actionable Trade Alert for
$RRR:
Market Context:
$RRR is currently trading at
$56.33, below both the 30-day moving average (MA30) of
$56.76 and the 50-day moving average (MA50) of
$57.76, indicating a bearish sentiment. The RSI of 41.94 suggests that the stock is nearing oversold territory, which could lead to a potential reversal.
Directional Bias: The stock is trading within a 60-day high of
$62.81 and a low of
$51.76, presenting a range for potential upside. Given the current RSI and proximity to the lower end of this range, a bullish reversal could be anticipated.
Trade Plan:
- Suggested Entry:
$56.50 (slightly above the last close)
- Stop Loss:
$54.50 (risking
$2.00)
- Take Profit Targets:
1.
$58.50 (1st target, 3.55% gain)
2.
$60.00 (2nd target, 6.65% gain)
3.
$66.00 (3rd target, 17.05% gain)
This plan offers a balanced risk-reward profile with a potential ROI of over 17% on the third target.
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