Dec. 25 at 2:55 PM
Actionable Trade Alert for
$TXNM:
Market Context:
$TXNM is currently showing strong momentum with a last close at
$58.95. The RSI at 74.12 indicates overbought conditions, suggesting potential for a pullback. However, the stock is trading above its 30-day (58.3) and 50-day (57.79) moving averages, indicating a bullish trend.
Directional Bias: The stock is in a bullish trend, but the high RSI suggests caution. The 60-day high of
$59.12 is just above the current price, while the low of
$56.5 provides a solid support level.
Trade Plan:
- Suggested Entry:
$58.95
- Stop Loss:
$57.50 (below MA30)
- Take Profit Targets:
1. Target 1:
$59.50 (1.3% gain)
2. Target 2:
$60.00 (1.77% gain)
3. Target 3:
$60.50 (2.6% gain, 17% ROI on the overall trade)
Monitor the RSI closely; if it drops below 70, consider adjusting targets.
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