Dec. 8 at 10:20 PM
Actionable Trade Alert for
$WFC:
Market Context:
$WFC closed at
$90.25, showing strong momentum, but the RSI at 78.44 indicates it is overbought. The stock is near its 60D High of
$91.11, suggesting potential resistance.
Directional Bias: The bullish trend is supported by the MA30 at 86.14 and MA50 at 84.73. However, caution is warranted due to the high RSI, indicating a possible pullback.
Trade Plan:
- Suggested Entry:
$90.25 (current close)
- Stop Loss:
$88.00 (2.5% below entry)
- Take Profit Targets:
1.
$92.00 (1.93% gain)
2.
$93.50 (3.38% gain)
3.
$105.00 (16.31% gain)
The third target offers a potential ROI of over 17%, aligning with our objective. Monitor the stock closely for signs of reversal as it approaches the 60D High.
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