Dec. 10 at 4:32 AM
Actionable Trade Alert for
$SLGN:
Market Context:
$SLGN closed at
$38.14, showing a neutral RSI at 51.83, indicating no immediate overbought or oversold conditions. The stock is currently trading below its 30-day moving average (MA30) of
$38.85 and well below the 60-day high of
$45.20, suggesting potential for upward movement.
Directional Bias: Given the proximity to the 60-day low of
$36.15 and the current price above this level, there is a bullish bias. The stock's ATR of 0.85 indicates moderate volatility, allowing for reasonable price movements.
Trade Plan:
- Suggested Entry:
$38.20
- Stop Loss:
$36.50 (approximately 4.4% risk)
- Take Profit Targets:
1.
$40.00 (Target 1, 4.7% ROI)
2.
$42.00 (Target 2, 9.5% ROI)
3.
$44.70 (Target 3, 17.3% ROI)
This plan offers a solid risk-reward ratio, with the potential for over 17% ROI on the third target.
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