Dec. 12 at 12:55 AM
Actionable Trade Alert for
$TNET:
Market Context:
$TNET is currently trading at
$57.63, with a recent RSI of 62.51 indicating bullish momentum but nearing overbought territory. The price is above the 30-day moving average (MA30) of
$57.06, suggesting short-term strength, but below the 50-day moving average (MA50) of
$59.31, indicating potential resistance ahead. The 60-day high of
$69.30 provides a strong upside target, while the low of
$54.22 offers a solid support level.
Directional Bias: Given the current price action and RSI, there is a bullish bias, but caution is warranted due to the proximity to overbought conditions.
Trade Plan:
- Suggested Entry:
$57.63
- Stop Loss:
$55.50 (approx. 3.7% risk)
- Take Profit Targets:
1.
$60.00 (4.1% gain)
2.
$63.00 (9.8% gain)
3.
$67.50 (17.1% gain)
This plan aims for a conservative approach while allowing for significant upside potential.
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