Dec. 17 at 2:49 AM
Actionable Trade Alert for
$Z:
Market Context: The last close of
$70.07 indicates a price below the 30-day (MA30) and 50-day (MA50) moving averages, suggesting bearish momentum. The RSI at 41.0 indicates the asset is approaching oversold territory, which can lead to a potential reversal.
Directional Bias: Given the current price is near the 60-day low of
$65.07, and with the RSI indicating potential for upward movement, we anticipate a bullish reversal. The ATR of 2.83 suggests volatility, allowing for significant price movement.
Trade Plan:
- Suggested Entry:
$70.07
- Stop Loss:
$66.00 (approx. 5.5% below entry)
- Take Profit Targets:
1. Target 1:
$74.00 (5.5% gain)
2. Target 2:
$78.00 (11.3% gain)
3. Target 3:
$82.00 (17% gain)
This plan offers a structured approach with a potential ROI of over 17% at the third target. Monitor price action closely for adjustments.
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