Dec. 19 at 4:09 PM
Actionable Trade Alert for
$W:
Market Context: Currently,
$W is trading at
$98.46, which is near the lower end of its 60-day range (73.61 - 114.92). The RSI at 33.45 indicates that the stock is oversold, suggesting potential upward momentum. The MA30 at 101.9 is above the current price, indicating resistance, while the MA50 at 96.61 is below, suggesting support.
Directional Bias: Given the oversold RSI and proximity to the 60-day low, there is a bullish bias. A potential reversal could lead to gains.
Trade Plan:
- Suggested Entry:
$98.50
- Stop Loss:
$94.00 (4.5% below entry)
- Take Profit Targets:
1.
$102.00 (3.5% gain)
2.
$105.00 (6.5% gain)
3.
$115.00 (16.8% gain)
With a target of
$115.00, this trade offers a potential ROI of 17% or more. Monitor the stock closely for volatility, as indicated by the ATR of 6.0.
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