Dec. 6 at 1:31 AM
Actionable Trade Alert for
$SHW:
Market Context:
$SHW is currently trading at
$335.37, positioned between its 60D high of
$369.52 and low of
$318.22. The RSI of 46.55 indicates a neutral momentum, suggesting potential for upward movement if buying pressure increases.
Directional Bias: The price is slightly below the 30-day (MA30) and 50-day (MA50) moving averages, which are both at
$338.77 and
$338.19, respectively. This suggests a potential reversal opportunity as it approaches these resistance levels.
Trade Plan:
- Suggested Entry:
$336.00
- Stop Loss:
$328.00 (below recent support)
- Take Profit Targets:
1.
$345.00 (2.6% ROI)
2.
$355.00 (5.5% ROI)
3.
$392.00 (16.9% ROI)
With a focus on a potential bounce back towards the moving averages, this trade presents a favorable risk-reward ratio. Monitor the price action closely around the entry point.
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