Dec. 6 at 3:39 AM
Actionable Trade Alert for
$SRRK:
Market Context:
$SRRK is currently trading at
$45.2, near its 60D high of
$45.5, indicating strong upward momentum. The RSI at 77.83 suggests overbought conditions, which could lead to a price correction. However, the stock has shown resilience, staying above its moving averages (MA30 at 34.82 and MA50 at 34.79), indicating a bullish trend.
Directional Bias: Given the high RSI and proximity to the 60D high, we anticipate a potential pullback or consolidation before further upward movement.
Trade Plan:
- Suggested Entry:
$45.2
- Stop Loss:
$43.5 (approximately 3.8% below entry)
- Take Profit Targets:
1. Target 1:
$47.0 (4% gain)
2. Target 2:
$50.0 (10% gain)
3. Target 3:
$53.0 (17% gain)
This plan offers a solid risk-reward ratio, with a potential ROI of over 17% on Target 3.
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