Dec. 10 at 4:05 AM
Actionable Trade Alert for
$SNV:
Market Context:
$SNV closed at
$51.0, showing strong momentum with an RSI of 84.69, indicating overbought conditions. The stock is trading above both the 30-day and 50-day moving averages (MA30 and MA50 at 46.79), suggesting bullish momentum. The recent high of
$52.69 indicates potential resistance, while the low of
$43.59 provides a solid support base.
Directional Bias: Given the high RSI and proximity to the 60D high, we anticipate a pullback or consolidation before further upward movement. However, the strong trend suggests potential for gains.
Trade Plan:
- Suggested Entry:
$51.0
- Stop Loss:
$48.0 (approximately 5.88% below entry)
- Take Profit Targets:
1.
$53.0 (approx. 3.92% ROI)
2.
$54.5 (approx. 6.86% ROI)
3.
$59.0 (approx. 15.69% ROI)
Target 3 offers a potential ROI of over 17% from the entry point. Monitor for price action and adjust stops accordingly.
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