Dec. 6 at 1:58 AM
Actionable Trade Alert for
$WSM:
Market Context:
$WSM is currently trading at
$176.66, showing a bearish sentiment with an RSI of 37.97, indicating potential oversold conditions. The stock is below both the 30-day MA of 186.53 and the 50-day MA of 188.74, suggesting a downtrend.
Directional Bias: Given the RSI and position relative to moving averages, there is a potential for a reversal. The stock is near the 60D low of 170.13, providing a strong support level.
Trade Plan:
- Suggested Entry:
$177.00 (slightly above the last close to confirm upward momentum)
- Stop Loss:
$170.00 (below the 60D low for risk management)
- Take Profit Targets:
1.
$185.00 (5% gain)
2.
$195.00 (10.3% gain)
3.
$207.00 (17.2% gain)
This plan offers a risk-reward ratio that aligns with the desired 17% ROI on the third target. Monitor closely for market conditions and adjust as necessary.
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