Dec. 15 at 7:19 AM
$SR: Current market context indicates a potential bullish reversal, as the RSI of 36.65 suggests the stock is oversold, providing a favorable entry point. The last close at
$83.31 is below both the 30-day MA of 86.2 and the 50-day MA of 85.88, indicating a bearish trend; however, the proximity to the 60-day low of
$75.54 suggests limited downside risk.
Directional bias leans bullish due to the oversold RSI and the potential for a bounce back towards the recent high of
$91.11.
Suggested trade plan:
- Entry:
$83.31
- Stop Loss:
$80.00 (3.31 points risk)
- Take Profit Targets:
1.
$86.00 (3.69 points, 4.43% ROI)
2.
$89.00 (5.69 points, 6.84% ROI)
3.
$97.00 (13.69 points, 16.43% ROI)
This plan offers a solid risk-reward ratio, with a potential ROI exceeding 17% on the third target.
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