Dec. 8 at 10:47 PM
Actionable Trade Alert for
$SYY:
Market Context:
$SYY is currently trading at
$72.80, showing a bearish sentiment as indicated by an RSI of 37.54, which is below the neutral level of 50. The recent price is also below both the 30-day MA (74.81) and the 50-day MA (76.86), suggesting continued downward pressure.
Directional Bias: The price is near the 60-day low of
$72.26, indicating potential support. However, the overall trend remains bearish, and caution is warranted.
Trade Plan:
- Suggested Entry:
$72.50 (slightly below current close to capture potential bounce)
- Stop Loss:
$71.50 (to limit risk)
- Take Profit Targets:
1.
$75.00 (target 1, approx. 3.5% gain)
2.
$78.00 (target 2, approx. 7.5% gain)
3.
$85.00 (target 3, approx. 17% gain)
The third target aligns with the 60-day high of
$83.47, providing a solid ROI opportunity. Monitor closely for price action around support levels.
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