Dec. 19 at 4:13 PM
$SN Actionable Trade Alert:
Market Context: The stock closed at
$114.01, showing strong momentum with an RSI of 84.98, indicating overbought conditions. The recent 60D high is
$115.38, suggesting potential resistance, while the 60D low is
$83.12, providing a clear support level.
Directional Bias: Given the high RSI, caution is warranted. However, the stock is above its 30-day (99.59) and 50-day (96.37) moving averages, indicating a bullish trend. A pullback may be expected before further upward movement.
Suggested Trade Plan:
- Entry:
$113.50 (slightly below the current close to capture potential dips)
- Stop Loss:
$110.00 (to limit risk)
- Take Profit Targets:
1.
$116.00 (approx. 2.2% ROI)
2.
$118.00 (approx. 4.6% ROI)
3.
$134.00 (approx. 17.5% ROI)
Monitor price action closely around the 60D high. Adjust targets as necessary based on market conditions.
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