Dec. 11 at 10:46 PM
Actionable Trade Alert for
$WDC:
Market Context:
$WDC is currently trading at
$182.18, showing strong momentum with an RSI of 84.72, indicating overbought conditions. The stock is above its 30-day moving average (MA30) of 159.97 and 50-day moving average (MA50) of 145.58, suggesting bullish sentiment.
Directional Bias: Given the high RSI and proximity to the 60-day high of
$183.81, there may be limited upside in the short term. However, the overall trend remains bullish due to the strong performance above key moving averages.
Trade Plan:
- Suggested Entry:
$182.50
- Stop Loss:
$175.00 (4% below entry)
- Take Profit Targets:
1.
$185.00 (1.5% gain)
2.
$190.00 (4.1% gain)
3.
$214.00 (17.4% gain)
This plan allows for a potential 17% ROI on the third target while maintaining a reasonable risk-reward ratio. Monitor RSI for signs of reversal.
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