Dec. 10 at 4:51 AM
$TEX: Current market context shows a strong bullish sentiment as the last close is
$48.91, with an RSI of 67.42 indicating overbought conditions but still room for upward movement. The price is above the 30-day MA of
$46.85, suggesting a bullish trend, while the 50-day MA at
$49.64 serves as a resistance level. The 60-day high of
$58.66 presents a potential target for profit-taking.
Actionable Trade Plan:
- Suggested Entry:
$49.00
- Stop Loss:
$46.50 (3% below entry)
- Take Profit Targets:
1.
$53.00 (8.16% ROI)
2.
$56.00 (14.29% ROI)
3.
$57.00 (16.33% ROI)
Directional bias remains bullish due to the price being above key moving averages and the proximity to the 60-day high. Monitor RSI for signs of reversal as it approaches overbought territory.
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