Dec. 19 at 5:44 PM
$SLNO: Current market context shows the stock closing at
$48.38, with an RSI of 43.62 indicating it is nearing oversold conditions. The 30-day moving average (MA30) is at
$48.7, slightly above the current price, while the 50-day moving average (MA50) is significantly higher at
$55.31. This suggests a bearish short-term trend but potential for a rebound as it approaches the lower end of the 60-day range (
$41.8).
Directional bias leans bullish due to the proximity to the 60D low and the RSI indicating potential upward momentum.
Suggested trade plan:
- Entry:
$48.50
- Stop Loss:
$45.50 (approximately 6% below entry)
- Take Profit Targets:
1.
$52.00 (Target 1, 7.7% ROI)
2.
$55.00 (Target 2, 13.0% ROI)
3.
$56.70 (Target 3, 17.1% ROI)
This plan aims for a minimum of 17% ROI on the third target while managing risk effectively.
https://privateprofiteers.com
