Dec. 8 at 11:32 PM
Actionable Trade Alert for
$WBS:
Market Context:
$WBS is currently trading at
$62.67, showing strong momentum with an RSI of 89.46, indicating it is overbought. The price is near the 60D high of
$63.35, suggesting potential resistance ahead. The moving averages (MA30 at 58.01 and MA50 at 57.89) indicate a bullish trend, but the high RSI signals caution.
Directional Bias: Given the overbought RSI and proximity to the 60D high, we anticipate a potential pullback before further upward movement. However, if momentum continues, we can capitalize on short-term gains.
Trade Plan:
- Suggested Entry:
$62.67
- Stop Loss:
$59.50 (approx. 5% below entry)
- Take Profit Targets:
1.
$64.00 (5% gain)
2.
$66.00 (10% gain)
3.
$73.00 (17% gain)
This plan allows for a structured approach to trading
$WBS, balancing risk and reward effectively.
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