Dec. 11 at 10:55 PM
Actionable Trade Alert for
$WEC:
Market Context:
$WEC is currently trading at
$104.46, showing signs of weakness with an RSI of 22.36, indicating oversold conditions. The stock is below its 30-day moving average (MA30) of 109.94 and 50-day moving average (MA50) of 112.17, suggesting a bearish trend. However, the recent low of
$103.59 provides a potential support level.
Directional Bias: Given the oversold RSI and proximity to the 60-day low, there is a potential for a rebound. A reversal could occur as the stock approaches support, making this a strategic entry point.
Trade Plan:
- Suggested Entry:
$104.50
- Stop Loss:
$102.50 (risking
$2.00)
- Take Profit Targets:
1. Target 1:
$108.00 (3.6% ROI)
2. Target 2:
$111.00 (6.3% ROI)
3. Target 3:
$122.00 (16.8% ROI)
This plan offers a potential ROI of over 17% on the third target, capitalizing on the expected rebound. Monitor closely for price action around support levels.
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