Dec. 11 at 11:42 PM
Actionable Trade Alert for
$SANM:
Market Context:
$SANM is currently experiencing strong bullish momentum, indicated by an RSI of 83.32, suggesting overbought conditions. However, this can lead to further upward movement before a potential correction. The stock is trading above its 30-day MA of 158.54 and 50-day MA of 146.99, reinforcing a bullish sentiment.
Directional Bias: Given the recent high of 178.39 within the last 60 days, there is potential for the price to approach this level again. The strong upward trend and high RSI indicate that momentum may continue in the short term.
Suggested Trade Plan:
- Entry:
$171.95 (last close)
- Stop Loss:
$165.07 (1 ATR below entry)
- Take Profit Targets:
1.
$178.39 (60D High) - 3.5% ROI
2.
$184.00 - 7% ROI
3.
$201.00 - 17% ROI
This plan offers a strategic approach to capitalize on the current bullish trend while managing risk effectively.
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