Dec. 11 at 11:42 PM
$TECH Trade Alert:
Market Context: The last close was
$60.59, with an RSI of 55.13 indicating a neutral momentum, suggesting potential for upward movement. The stock is currently trading below its 30-day (MA30) and 50-day moving averages (MA50), which are at
$60.97 and
$61.37 respectively. The 60-day high of
$66.96 provides a resistance level, while the low of
$50.13 serves as a support level.
Directional Bias: Given the RSI is above 50 but below 60, and the proximity to the MA30, we anticipate a bullish trend as it approaches the moving averages.
Trade Plan:
- Suggested Entry:
$60.75 (slightly above last close)
- Stop Loss:
$58.00 (below recent support)
- Take Profit Targets:
- Target 1:
$63.00 (5% gain)
- Target 2:
$65.00 (7.5% gain)
- Target 3:
$71.00 (17% gain)
This plan allows for a structured approach with a favorable risk-reward ratio.
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