Dec. 6 at 3:45 AM
Actionable Trade Alert:
$VRDN
Market Context:
$VRDN is currently trading at
$32.46, showing strong momentum as indicated by an RSI of 71.84, suggesting overbought conditions. However, the price is near its 60D High of
$33.34, indicating potential resistance.
Directional Bias: The bullish sentiment is supported by the MA30 at
$27.55 and MA50 at
$25.21, both below the current price, signaling upward momentum. The high-low range indicates a strong potential for profit, with room to target higher levels before potential pullbacks.
Trade Plan:
- Suggested Entry:
$32.50
- Stop Loss:
$30.00 (1.26 ATR below entry)
- Take Profit Targets:
1.
$34.00 (4.6% ROI)
2.
$36.00 (10.2% ROI)
3.
$38.00 (17.9% ROI)
With a clear strategy and defined targets, this trade offers a favorable risk-reward ratio. Monitor closely for any signs of reversal given the RSI levels.
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