Dec. 15 at 6:39 AM
$SJM: Actionable Trade Alert
Market Context: The last close was
$101.57, with the RSI at 39.0 indicating potential oversold conditions. The price is below both the 30-day MA (103.96) and the 50-day MA (104.15), suggesting bearish momentum. However, it is above the 60-day low of
$98.64, indicating a potential support level.
Directional Bias: Given the RSI is below 40 and the price is below key moving averages, the short-term bias is bearish. However, the proximity to the 60-day low may provide a reversal opportunity.
Trade Plan:
- Suggested Entry:
$101.57
- Stop Loss:
$98.00 (below the 60D low)
- Take Profit Targets:
1.
$104.00 (approx. 2.4% gain)
2.
$106.00 (approx. 4.8% gain)
3.
$118.00 (approx. 16.2% gain)
This plan aims for a significant ROI on the third target while maintaining a manageable risk.
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