Dec. 9 at 12:22 AM
Actionable Trade Alert for
$SKT:
Market Context:
$SKT is currently trading at
$32.13, below its 30-day moving average (MA30) of
$33.3 and 50-day moving average (MA50) of
$33.19, indicating a bearish trend. The RSI of 39.54 suggests that the stock is approaching oversold territory, which could signal a potential reversal.
Directional Bias: Given the current price is near the 60-day low of
$31.63, there is a possibility for a bounce back towards the 60-day high of
$34.84. The ATR of 0.63 indicates moderate volatility, allowing for reasonable price movements.
Trade Plan:
- Suggested Entry:
$32.13
- Stop Loss:
$31.50 (approximately 2% risk)
- Take Profit Targets:
1.
$33.00 (Target 1, 2.7% ROI)
2.
$33.75 (Target 2, 5.1% ROI)
3.
$37.50 (Target 3, 16.5% ROI)
This plan provides a solid risk-reward ratio with a potential 17% ROI on the third target. Monitor closely for market changes.
For more insights, visit https://privateprofiteers.com.
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