Dec. 11 at 11:49 PM
Actionable Trade Alert for
$SITM:
Market Context:
$SITM is currently trading at
$380.36, showing strong momentum with an RSI of 92.88, indicating overbought conditions. The stock is above both the 30-day MA of 306.1 and the 50-day MA of 299.12, suggesting bullish sentiment.
Directional Bias: The high of
$387.03 within the last 60 days indicates potential resistance, while the low of
$243.68 provides a solid support level. The current price is approaching the 60D high, which could trigger profit-taking.
Trade Plan:
- Suggested Entry:
$380.36
- Stop Loss:
$364.48 (approximately 4% below entry)
- Take Profit Targets:
1. Target 1:
$390.00 (2.5% gain)
2. Target 2:
$400.00 (5.2% gain)
3. Target 3:
$445.00 (17% gain)
With the current momentum and proximity to the 60D high, a well-structured trade can yield significant returns. Monitor RSI for potential reversal signals.
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