Dec. 6 at 2:14 AM
Actionable Trade Alert for
$WSO
Market Context:
$WSO closed at
$347.98, positioned between its 60D high of
$421.57 and low of
$323.05. The current RSI of 50.81 indicates a neutral momentum, suggesting potential for upward movement.
Directional Bias: The price is below the 30-day moving average (MA30) of
$349.61 and significantly below the 50-day moving average (MA50) of
$364.11, indicating a bearish trend in the short to medium term. However, the proximity to the 60D low suggests a possible reversal opportunity.
Trade Plan:
- Entry:
$348.50 (slightly above last close)
- Stop Loss:
$335.00 (below recent support)
- Take Profit Targets:
- TP1:
$360.00 (3.2% gain)
- TP2:
$375.00 (7.7% gain)
- TP3:
$408.00 (17.2% gain)
This plan offers a favorable risk-reward ratio, aiming for a minimum 17% ROI on TP3. Monitor price action closely for any changes in momentum.
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