Dec. 9 at 12:22 AM
Actionable Trade Alert for
$VIAV:
Market Context:
$VIAV is currently trading at
$18.61, showing strong momentum with an RSI of 71.75, indicating overbought conditions. The 30-day moving average (MA30) at
$17.00 and the 50-day moving average (MA50) at
$15.36 suggest a bullish trend. The recent 60-day high of
$18.90 is close to the current price, indicating potential resistance.
Directional Bias: Given the RSI above 70, we anticipate a pullback or consolidation before further upward movement. However, the strong support from the MA30 and MA50 indicates that the bullish trend may continue.
Trade Plan:
- Suggested Entry:
$18.50
- Stop Loss:
$17.50 (Risking
$1.00)
- Take Profit Targets:
1.
$19.00 (Target 1, 2.7% ROI)
2.
$19.50 (Target 2, 4.8% ROI)
3.
$21.00 (Target 3, 13.0% ROI)
Target 3 offers a potential ROI of 17% or more when factoring in the stop loss. Monitor price action closely for adjustments.
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