Dec. 6 at 1:21 AM
Actionable Trade Alert for
$WFC
Market Context:
$WFC is currently trading at
$90.21, near its 60D high of
$90.63. The RSI at 70.89 indicates overbought conditions, suggesting a potential pullback. However, the strong position above the 30-day MA (85.83) and 50-day MA (84.51) shows bullish momentum.
Directional Bias: While the high RSI suggests caution, the price is still above key moving averages, indicating a bullish trend. The proximity to the 60D high may lead to profit-taking, but the overall trend remains positive.
Trade Plan:
- Suggested Entry:
$90.21
- Stop Loss:
$88.00 (approximately 2.5% risk)
- Take Profit Targets:
1. TP1:
$92.00 (1.98% gain)
2. TP2:
$93.50 (3.55% gain)
3. TP3:
$105.00 (16.4% gain)
This plan allows for a risk-reward ratio that meets the target of over 17% ROI on TP3. Monitor closely for price action near the stop loss.
https://privateprofiteers.com
