Dec. 19 at 5:45 PM
Actionable Trade Alert for
$SFNC:
Market Context:
$SFNC is currently trading at
$19.46, showing strength but nearing overbought territory with an RSI of 67.57. The stock is above both its 30-day MA (18.5) and 50-day MA (18.33), indicating bullish momentum. The recent high of
$19.94 suggests potential resistance, while the low of
$17.00 provides a solid support level.
Directional Bias: Given the current RSI and proximity to the 60D high, we anticipate a slight pullback before a potential breakout. The stock's upward trend is supported by moving averages, but caution is warranted due to the RSI indicating overbought conditions.
Trade Plan:
- Suggested Entry:
$19.00 (on a pullback)
- Stop Loss:
$18.50 (to limit risk)
- Take Profit Targets:
- Target 1:
$20.00 (5.5% ROI)
- Target 2:
$21.00 (7.9% ROI)
- Target 3:
$22.75 (16.5% ROI)
This plan offers a potential ROI of over 17% on the third target while maintaining a manageable risk.
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