Dec. 11 at 10:59 PM
$UAL Trade Alert:
Market Context: United Airlines has shown strong momentum, closing at
$107.26 with an RSI of 80.46, indicating overbought conditions. However, the price is still below the 60D high of
$109.66, suggesting potential for further upside.
Directional Bias: Given the RSI above 70, caution is warranted as it may signal a pullback. The MA30 and MA50 are both at
$98.32, providing solid support. The current price is significantly above these moving averages, indicating bullish sentiment but also potential for a correction.
Trade Plan:
- Suggested Entry:
$107.50
- Stop Loss:
$104.00 (below recent support)
- Take Profit Targets:
1.
$110.00 (2.5% gain)
2.
$112.50 (4.5% gain)
3.
$125.00 (16.5% gain)
Target 3 offers a potential ROI of 16.5%, aligning with our goal of 17% or more. Monitor RSI for signs of reversal before entering.
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