Dec. 11 at 11:45 PM
Actionable Trade Alert for
$WAL:
Market Context:
$WAL is currently trading at
$87.33, showing strong momentum with an RSI of 83.43, indicating overbought conditions. However, the price is above the 30-day MA of
$80.12 and the 50-day MA of
$79.79, suggesting bullish sentiment in the medium term. The 60-day high is
$92.20, providing a resistance level.
Directional Bias: The strong RSI indicates potential for a pullback, but the upward trend supported by moving averages suggests a continuation of the bullish trend. The price is currently closer to the 60-day high, which may limit upside potential but also indicates strength.
Trade Plan:
- Suggested Entry:
$87.33
- Stop Loss:
$84.84 (1 ATR below entry)
- Take Profit Targets:
1.
$90.00 (3.06% ROI)
2.
$91.00 (4.92% ROI)
3.
$102.00 (16.74% ROI)
With the potential to reach the third target, this trade offers a solid risk-reward ratio. Monitor closely for any signs of reversal.
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