Dec. 15 at 6:21 AM
Actionable Trade Alert for
$SNA:
Market Context: The last close for
$SNA is
$350.83, with the RSI at 71.12 indicating overbought conditions. The price is above both the 30-day MA (340.05) and the 50-day MA (339.9), suggesting bullish momentum. However, the high of
$357.41 over the last 60 days indicates potential resistance.
Directional Bias: Given the current RSI and proximity to the 60D high, we anticipate a short-term pullback before a potential breakout.
Trade Plan:
- Suggested Entry:
$348 (slightly below the last close to capture a potential dip)
- Stop Loss:
$340 (to manage risk, just below the 30-day MA)
- Take Profit Targets:
1.
$355 (first target, 1.75% gain)
2.
$360 (second target, 3.5% gain)
3.
$410 (third target, 17% gain)
This plan allows for a significant ROI on the third target while managing risk effectively.
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