Dec. 19 at 3:25 PM
Actionable Trade Alert for
$SHW:
Market Context:
$SHW is currently trading at
$325.36, showing bearish momentum with an RSI of 26.08, indicating oversold conditions. The stock is below both the 30-day (MA30=333.98) and 50-day (MA50=335.41) moving averages, reinforcing a bearish bias. The recent 60-day high of
$368.62 and low of
$318.22 suggests a potential range for price movement.
Directional Bias: Given the oversold RSI and proximity to the 60-day low, a short-term rebound is likely. However, the overall trend remains bearish until a clear reversal is established.
Trade Plan:
- Suggested Entry:
$325.36
- Stop Loss:
$318.00 (below the 60D low)
- Take Profit Targets:
1.
$335.00 (Target 1, approx. 3% ROI)
2.
$345.00 (Target 2, approx. 6% ROI)
3.
$380.00 (Target 3, approx. 17% ROI)
Monitor price action closely around these targets for potential adjustments.
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