Dec. 6 at 3:32 AM
Actionable Trade Alert for
$SMG:
Market Context:
$SMG closed at
$54.72, currently trading below both the 30-day MA of
$55.41 and the 50-day MA of
$55.78, indicating a bearish trend. The RSI of 37.45 suggests that the stock is nearing oversold territory, which may present a potential reversal opportunity.
Directional Bias: Given the current RSI and proximity to the 60-day low of
$52.00, there is a possibility for a bounce back towards the high range. The ATR of 1.77 indicates moderate volatility, allowing for reasonable price movement.
Trade Plan:
- Suggested Entry:
$54.50
- Stop Loss:
$52.00 (4.56% risk)
- Take Profit Targets:
1.
$57.00 (4.56% gain)
2.
$59.00 (8.60% gain)
3.
$64.00 (17% gain)
This trade plan allows for a structured approach with a favorable risk-reward ratio, targeting a significant ROI on the third take profit.
For more insights, visit https://privateprofiteers.com.
https://privateprofiteers.com
