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This Stock Could Break Out to a Double-Digit Gain

This Stock Could Break Out to a Double-Digit Gain

DENTSPLY SIRONA Inc. (Nasdaq: XRAY) designs, develops, manufactures, and markets various dental and oral health products, and other consumable healthcare products primarily for the professional dental market worldwide.

The stock offers a target potential upside of about 12% with a 7:1 potential reward to risk ratio.

Recommended Trade

Buy: DENTSPLY SIRONA Inc. (Nasdaq: XRAY)

Buy Price: $57.22

Target Price: $64.24 (+12.2%) based on the price pattern.

Stop Loss: $56.29 (-1.6%) based on the price pattern.

Rationale: Stochastic is signaling a buy from an oversold extreme, similar to the pattern seen in the indicator last October and May. Both of these setups preceded up moves in the stock.

Risk: The stock peaked on high volume which could indicate new positions were opened at that level. If that is the case, the stock could encounter significant resistance as it attempts to rally.

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