Nov. 13 at 12:56 AM
$TMO: The last close at
$584.64 indicates a strong position near the 60D high of
$585.85, suggesting bullish momentum. The RSI at 64.61 indicates that the stock is approaching overbought territory but is not yet extreme, allowing for potential upward movement. The MA30 at
$551.52 and MA50 at
$522.03 both indicate a strong upward trend, reinforcing a bullish sentiment.
Given the current market context, the directional bias is bullish. Suggested entry is at
$585, just above the recent high, to capitalize on potential continuation. Set a stop loss at
$571.39, slightly below the MA30 to manage risk.
Targets are set at
$595 (a psychological level) and
$605, aligning with potential resistance levels based on the recent high.
Overall, the trade plan focuses on a bullish strategy with defined entry, stop, and targets to maximize potential gains while managing risk effectively.
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