Stock Analysis: Today’s Best Top Swing Trade Idea 27 July 2024 – Appfolio (APPF).
Trade Details: On Friday, 26 July 2024, Appfolio (APPF) stock price closed at $230.95.
Appfolio stock is currently in a strong uptrend, consistently forming higher highs and higher lows on the chart. The stock price continues to break its previous highs and closes above them. On the weekly chart, the stock is trading within a rising wedge pattern. At the current price, a 3-drive pattern has formed at the all-time swing high. Volume indicates weakness in the up bars, and there’s an incomplete Cypher harmonic pattern on the chart. Additionally, RSI shows the price is overbought with divergence.
We could open a short position now and hold it until the downside support zone.
Note: If the price breaks and closes above $274, this bearish setup is invalid.
Sell Swing Trade Idea:-
Entry Range: $230-255
Stop Loss: $274
Target 1: $207
Target 2: $190
Note: Always remember: risk no more than 1% per trade.” Keep trailing your stop loss to secure bigger profits.
Please note this is only an opinion and not financial advice.
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