Dec. 11 at 11:22 PM
$TXT: The stock closed at
$87.09, currently exhibiting strong momentum with an RSI of 81.44, indicating overbought conditions. The 30-day moving average (MA30) at
$81.97 and the 50-day moving average (MA50) at
$82.34 suggest a bullish trend, but the high RSI warns of potential pullbacks.
Market context shows the stock nearing its 60-day high of
$87.94, which could act as resistance. Given the current metrics, we anticipate a potential pullback before resuming upward momentum.
Action Plan:
- Suggested Entry:
$86.50 (slightly below current price to capture a potential dip)
- Stop Loss:
$84.50 (to limit downside risk)
- Take Profit Targets:
1.
$89.00 (2.5% gain)
2.
$90.50 (4.5% gain)
3.
$102.00 (17% gain)
This plan allows for a strategic approach to capitalize on potential upward movement while managing risk effectively.
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