Dec. 17 at 4:25 AM
Actionable Trade Alert for
$SHOO:
Market Context:
$SHOO closed at
$43.73, showing strong momentum with an RSI of 64.26, indicating it is nearing overbought territory but still has room for upward movement. The stock is above both the 30-day MA (40.14) and the 50-day MA (37.9), suggesting bullish sentiment.
Directional Bias: The recent high of
$44.96 indicates potential resistance, while the low of
$31.74 provides a solid support base. The current price is well-positioned to capitalize on upward momentum, especially given the strong performance relative to moving averages.
Trade Plan:
- Suggested Entry:
$43.80
- Stop Loss:
$41.50 (5.25% below entry)
- Take Profit Targets:
1. Target 1:
$45.50 (3.9% gain)
2. Target 2:
$47.00 (7.0% gain)
3. Target 3:
$51.00 (16.5% gain)
This trade plan aims for a minimum 17% ROI on the third target. Monitor the stock closely for any changes in momentum.
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