Dec. 19 at 5:43 PM
$WOR: Current market context shows a bearish sentiment with the last close at
$52.41, and an RSI of 36.03 indicating oversold conditions. The price is below the 30-day (MA30) and 50-day (MA50) moving averages, which are at
$55.00 and
$55.54 respectively, reinforcing the bearish trend. However, the price is closer to the 60-day low of
$50.55, suggesting potential for a rebound.
Directional bias is cautiously bullish due to the oversold RSI, which often precedes a price correction.
Suggested entry:
$52.50.
Stop loss:
$50.00 (risking
$2.50).
Take Profit Targets:
1)
$54.00 (risk/reward of 0.6:1, 2.85% gain)
2)
$56.00 (risk/reward of 1.4:1, 6.82% gain)
3)
$61.00 (risk/reward of 3.4:1, 16.38% gain).
This trade plan offers a potential ROI of over 17% on the third target while managing risk effectively.
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