Dec. 6 at 1:26 AM
$SYK Actionable Trade Alert:
Market Context: With the last close at
$364.35,
$SYK is currently trading below its 30-day (
$366.67) and 50-day (
$368.43) moving averages, indicating a bearish short-term trend. The RSI at 40.92 suggests the stock is nearing oversold territory, which could signal a potential reversal.
Directional Bias: Given the current RSI and the proximity to the 60D low of
$349.16, there is a possibility for a bounce back towards higher levels. However, caution is warranted as the stock remains below key moving averages.
Trade Plan:
- Suggested Entry:
$365.00
- Stop Loss:
$358.00 (approx. 2% risk)
- Take Profit Targets:
1. TP1:
$375.00 (2.73% gain)
2. TP2:
$385.00 (5.73% gain)
3. TP3:
$427.00 (17.25% gain)
This plan allows for a favorable risk-reward ratio, targeting a significant return on TP3 while managing risk effectively.
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