Dec. 6 at 1:48 AM
$WAB Trade Alert:
Market Context: With the last close at
$214.04 and an RSI of 67.69,
$WAB is approaching overbought territory, indicating potential for a pullback. However, the stock is above both the 30-day MA (204.06) and the 50-day MA (201.09), suggesting bullish momentum. The 60-day high of
$215.23 indicates resistance, while the low of
$184.26 provides a solid support range.
Directional Bias: Bullish, given the current price above key moving averages and recent highs, but caution is warranted due to the elevated RSI.
Trade Plan:
- Suggested Entry:
$214.50
- Stop Loss:
$208.00 (3.5% below entry)
- Take Profit Targets:
- Target 1:
$218.00 (1.16% gain)
- Target 2:
$220.00 (2.31% gain)
- Target 3:
$250.00 (16.85% gain)
This plan offers a potential ROI exceeding 17% on the third target while maintaining a reasonable risk-reward ratio.
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