Dec. 11 at 11:41 PM
$TAP Actionable Trade Alert:
Market Context: The last close for
$TAP is
$47.26, showing a strong position within its recent trading range. The RSI of 60.72 indicates bullish momentum, suggesting potential upward movement. The price is also above the 30-day (MA30) and 50-day (MA50) moving averages, reinforcing a positive trend.
Directional Bias: The current price is near the 60D high of
$47.87, indicating resistance but also a potential breakout opportunity. The upward bias is supported by the RSI and the proximity to recent highs.
Trade Plan:
- Suggested Entry:
$47.30
- Stop Loss:
$45.50 (1.5 ATR below entry)
- Take Profit Targets:
- Target 1:
$48.50 (approx. 2.5% gain)
- Target 2:
$49.50 (approx. 4.5% gain)
- Target 3:
$55.00 (approx. 16.5% gain)
This plan offers a potential ROI of over 17% on Target 3, aligning with the bullish indicators.
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