Dec. 11 at 11:18 PM
Actionable Trade Alert for
$WY:
Market Context:
$WY closed at
$23.37, showing strong momentum with an RSI of 71.83, indicating overbought conditions. The stock is trading above key moving averages (MA30 at 22.26, MA50 at 22.97), suggesting bullish sentiment. However, the high of
$25.35 within the last 60 days poses a resistance level.
Directional Bias: Given the current RSI and proximity to the 60D high, we anticipate a potential pullback before further upward movement. This presents a tactical opportunity for a short-term trade.
Trade Plan:
- Suggested Entry:
$23.00 (if a pullback occurs)
- Stop Loss:
$22.50 (to limit downside risk)
- Take Profit Targets:
1.
$24.00 (17% ROI from entry)
2.
$24.75 (21% ROI from entry)
3.
$25.00 (30% ROI from entry)
Monitor price action closely, especially around the resistance level. Adjust stop loss to secure profits as targets are hit.
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