Dec. 6 at 1:26 AM
Actionable Trade Alert for
$WELL:
Market Context:
$WELL is currently trading at
$203.87, showing strong momentum with an RSI of 72.71, indicating overbought conditions. However, the stock remains above its 30-day moving average (MA30) of 192.34 and 50-day moving average (MA50) of 184.7, suggesting bullish sentiment in the short term.
Directional Bias: The stock is nearing its 60-day high of 209.05, which could act as a resistance level. Given the overbought RSI, a pullback may occur, but the overall trend remains bullish due to the support from the moving averages.
Suggested Trade Plan:
- Entry:
$203.87
- Stop Loss:
$197.00 (approximately 3.85% below entry)
- Take Profit Targets:
1.
$210.00 (Target 1) - 2.07% ROI
2.
$215.00 (Target 2) - 5.41% ROI
3.
$239.00 (Target 3) - 17.16% ROI
Monitor the market closely for potential reversals.
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