Dec. 19 at 3:57 PM
Actionable Trade Alert for
$TPR:
Market Context:
$TPR's last close at
$125.4 indicates strong momentum, but the RSI at 77.26 suggests it is overbought. The stock is trading above its 30-day MA of 110.4 and 50-day MA of 111.68, reinforcing bullish sentiment. However, caution is warranted due to potential pullbacks.
Directional Bias: The recent high of
$127.54 within the last 60 days indicates resistance, while the low of
$93.0 provides a solid support base. The current price is nearing resistance, which could trigger profit-taking.
Trade Plan:
- Suggested Entry:
$125.4
- Stop Loss:
$121.76 (approx. 3% below entry)
- Take Profit Targets:
1.
$128.00 (2% gain)
2.
$130.00 (3.2% gain)
3.
$147.00 (17% gain)
With the potential for a 17% ROI on the third target, this trade offers a favorable risk-reward setup. Monitor for price action around resistance levels to adjust strategy as needed.
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