Overview: ResMed Inc. (RMD) is currently exhibiting signs of bullish price action. This analysis provides a potential trading outlook based on the stock's recent market behavior and technical analysis.
Current Market Observations:
Price Trend: RMD has shown a consistent upward trend in recent trading sessions, indicative of bullish momentum, breakout above resistance levels, bullish chart formations.
Supporting Technical Indicators: The bullish outlook is supported by moving averages, Relative Strength Index (RSI), MACD, which suggest ongoing upward momentum.
Trading Strategy:
Target Price: $191. This target is set considering Fibonacci retracement levels, chart pattern projections.
Stop Loss: Placed at $170 to mitigate potential risks. This level is selected based on ATR percentage.
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