Dec. 15 at 7:09 AM
Actionable Trade Alert for
$SMTC:
Market Context:
$SMTC is currently trading at
$72.89, with a strong RSI of 65.09 indicating potential overbought conditions. However, the price is above both the 30-day MA (71.22) and the 50-day MA (70.28), suggesting bullish momentum. The 60-day high of
$81.32 provides a key resistance level, while the low of
$57.50 offers support.
Directional Bias: Given the bullish trend indicated by the moving averages and the proximity to the 60-day high, the bias is upward, but caution is warranted due to the elevated RSI.
Trade Plan:
- Suggested Entry:
$73.00
- Stop Loss:
$68.00 (approx. 6.9% below entry)
- Take Profit Targets:
1.
$78.00 (Target 1: 6.8% ROI)
2.
$80.00 (Target 2: 9.6% ROI)
3.
$85.00 (Target 3: 16.5% ROI)
With a focus on the upward momentum and potential for further gains, this trade plan aims for a minimum of 17% ROI on the third target.
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