Dec. 17 at 3:01 AM
$SOLV Actionable Trade Alert:
Market Context:
$SOLV is currently trading at
$80.59, with a recent RSI of 28.31 indicating it is oversold. This suggests a potential reversal or upward movement. The price is above the 30-day moving average (MA30) of
$79.23 and significantly above the 50-day moving average (MA50) of
$76.05, indicating a bullish bias in the short term.
Directional Bias: The current price is near the 60-day low of
$66.11, providing a strong support level. The oversold RSI and proximity to support suggest a potential bounce back.
Trade Plan:
- Suggested Entry:
$80.59
- Stop Loss:
$78.00 (around 3.2% below entry)
- Take Profit Targets:
1. Target 1:
$84.00 (4.8% gain)
2. Target 2:
$88.00 (9.1% gain)
3. Target 3:
$94.50 (17.3% gain)
This plan offers a favorable risk-reward ratio with a potential 17% ROI on the third target. Monitor closely for market movements.
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