Dec. 6 at 1:26 AM
Actionable Trade Alert for
$TXN:
Market Context:
$TXN closed at
$180.12, with an RSI of 69.65 indicating overbought conditions. The stock is trading above its 30-day MA of 163.87 and 50-day MA of 169.83, suggesting a bullish trend but caution is warranted due to the high RSI.
Directional Bias: The recent price action is near the 60-day high of 187.29, indicating potential resistance. The range between the 60-day high and low (152.73) suggests volatility, with an ATR of 5.35.
Trade Plan:
- Suggested Entry:
$180.12
- Stop Loss:
$173.00 (approximately 4% below entry)
- Take Profit Targets:
1.
$185.00 (2.3% gain)
2.
$190.00 (5.5% gain)
3.
$211.00 (17.1% gain)
Rationale: The targets are set based on the high-low range and potential upward momentum, with a clear stop to manage risk.
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