Dec. 8 at 11:04 PM
Actionable Trade Alert for
$VG:
Market Context:
$VG is currently trading at
$6.71, near the lower end of its 60-day range (
$6.5 -
$15.3). The RSI at 30.09 indicates oversold conditions, suggesting a potential reversal. The stock is below both the 30-day MA (7.74) and 50-day MA (9.15), indicating bearish momentum, but the extreme RSI suggests a possible bounce.
Directional Bias: Given the oversold RSI and proximity to the 60D low, we anticipate a short-term bullish reversal.
Trade Plan:
- Suggested Entry:
$6.75 (slightly above the last close to confirm upward momentum)
- Stop Loss:
$6.50 (to limit risk)
- Take Profit Targets:
1.
$7.50 (11% gain)
2.
$8.00 (18% gain)
3.
$7.85 (17% ROI)
This plan allows for a conservative approach with a focus on capturing potential upside while managing risk effectively.
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