Dec. 25 at 3:30 PM
Actionable Trade Alert for
$TREX:
Market Context:
$TREX closed at
$35.46, showing strength as it trades above the 30-day moving average (MA30) of
$33.92 and near the 50-day moving average (MA50) of
$38.48. The RSI of 61.85 indicates bullish momentum but is approaching overbought territory.
Directional Bias: Given the current price relative to the moving averages and the recent high of
$54.3, there is potential for upward movement. The price is also above the recent low of
$29.77, suggesting a bullish trend.
Trade Plan:
- Suggested Entry:
$35.50
- Stop Loss:
$33.50 (1.96% below entry)
- Take Profit Targets:
- Target 1:
$40.00 (12.5% ROI)
- Target 2:
$45.00 (26.5% ROI)
- Target 3:
$41.50 (17% ROI)
This plan offers a solid risk-to-reward ratio with clear exit points. Monitor the trade closely, especially as it approaches the targets.
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