Dec. 15 at 6:42 AM
Actionable Trade Alert for
$SWK:
Market Context:
$SWK currently trades at
$75.68, showing strong momentum as indicated by an RSI of 80.53, suggesting it is overbought. The recent 60-day high of
$79.41 provides a key resistance level, while the low of
$61.90 establishes a solid support base.
Directional Bias: The RSI indicates potential for a pullback, but the price is above both the 30-day MA (69.09) and 50-day MA (69.4), signaling bullish momentum. However, given the high RSI, caution is warranted.
Trade Plan:
- Suggested Entry:
$75.68
- Stop Loss:
$73.53 (1 ATR below entry)
- Take Profit Targets:
1.
$78.00 (Target 1: 3.06% ROI)
2.
$79.00 (Target 2: 4.68% ROI)
3.
$88.50 (Target 3: 17.0% ROI)
Monitor closely for market shifts, as the RSI suggests a potential reversal. Adjust stop-loss as needed to protect profits.
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