Stock Analysis: Today’s Best Swing Trade Idea for this week – Pagseguro Digital (PAGS)
Trade Synopsis: On Wednesday, August 21, 2024, Pagseguro Digital (PAGS) closed at $12.47. Observing the weekly chart reveals a persistent downtrend, with the stock forming lower highs and lower lows. The current movement suggests a test towards the upper supply zone on the weekly chart. The recent candle, marked by ultra-high volume, hints at an elevated likelihood of a downward trajectory in the coming weeks. This setup could present a promising long-term swing trade opportunity. We plan to initiate the trade following a daily candle retracement to the $13.70 level.
Important Note: Should the price close above the $15.30 level, this bearish setup becomes invalid.
Sell Swing Trade Idea:-
Entry Range: $13.70 – $14.50
Stop Loss (SL): $15.30
Target 1: $11.00
Target 2: $9.70
Today’s Best Swing Trade Idea for this week 22 August 2024 – Pagseguro Digital (PAGS)
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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