Dec. 6 at 3:45 AM
Actionable Trade Alert for
$SYNA:
Market Context:
$SYNA closed at
$75.94, approaching its 60D high of
$77.23. The RSI at 68.98 indicates overbought conditions, suggesting caution but also potential for a breakout if momentum continues. The MA30 at 67.91 and MA50 at 68.11 show a bullish trend, reinforcing upward momentum.
Directional Bias: Despite the high RSI, the proximity to the 60D high and strong moving averages indicate a potential continuation of the upward trend. However, watch for any reversal signals.
Trade Plan:
- Suggested Entry:
$76.00 (breakout above 60D high)
- Stop Loss:
$73.10 (below recent support)
- Take Profit Targets:
1.
$78.00 (2.63% gain)
2.
$80.00 (5.44% gain)
3.
$89.00 (17.18% gain)
This plan offers a risk-reward ratio that aligns with a bullish outlook while managing downside risk effectively. Monitor closely for market shifts.
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