Dec. 19 at 3:27 PM
Actionable Trade Alert for
$USB:
Market Context:
$USB closed at
$53.87, showing strong bullish momentum with an RSI of 91.27, indicating overbought conditions. However, the price is near the 60D high of
$54.41, suggesting potential resistance. The moving averages (MA30 at 49.66 and MA50 at 48.53) indicate a strong upward trend, supporting a bullish bias.
Directional Bias: Given the high RSI and proximity to the 60D high, we anticipate a pullback or consolidation before further upward movement. However, the strong trend suggests that bullish opportunities remain.
Trade Plan:
- Suggested Entry:
$53.90 (slightly above the last close)
- Stop Loss:
$51.50 (3.7% below entry)
- Take Profit Targets:
1.
$55.00 (2.0% gain)
2.
$56.00 (4.0% gain)
3.
$63.00 (17% gain)
This plan provides a favorable risk-reward ratio, with the potential for significant returns if price breaks above resistance.
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