Dec. 6 at 3:42 AM
Actionable Trade Alert for
$SHOO:
Market Context:
$SHOO is currently trading at
$43.09, showing strong momentum with an RSI of 70.38, indicating overbought conditions. The stock is above its 30-day moving average (MA30) of 38.07 and 50-day moving average (MA50) of 36.5, suggesting bullish sentiment.
Directional Bias: The stock is near its 60-day high of 44.38, which could act as a resistance level. Given the current RSI and proximity to recent highs, a pullback may occur, but a breakout above
$44.38 could lead to further gains.
Trade Plan:
- Suggested Entry:
$43.10
- Stop Loss:
$41.50 (approximately 3.7% risk)
- Take Profit Targets:
1.
$45.00 (4.4% gain)
2.
$46.50 (7.1% gain)
3.
$50.50 (17.4% gain)
This setup allows for a favorable risk-reward ratio, targeting a minimum of 17% ROI on the third take profit. Monitor closely for price action around resistance levels.
For more insights, visit https://privateprofiteers.com.
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