Dec. 11 at 11:19 PM
Actionable Trade Alert for
$WMG:
Market Context:
$WMG is currently trading at
$28.06, below its 30-day moving average (MA30) of
$29.44 and 50-day moving average (MA50) of
$30.78, indicating bearish sentiment. The RSI at 37.69 suggests that the stock is nearing oversold territory, which may lead to a potential reversal.
Directional Bias: Given the current price is closer to the 60-day low of
$27.29 than the high of
$34.63, we anticipate a bullish reversal. The ATR of 0.87 indicates moderate volatility, allowing for reasonable price movement.
Trade Plan:
- Suggested Entry:
$28.10 (slightly above the last close)
- Stop Loss:
$27.00 (to limit downside risk)
- Take Profit Targets:
1.
$30.00 (Target 1, approx. 6.8% ROI)
2.
$31.00 (Target 2, approx. 10.5% ROI)
3.
$32.90 (Target 3, approx. 17.5% ROI)
Monitor price action closely and adjust targets as necessary.
For more insights, visit https://privateprofiteers.com.
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