Stock Analysis: Best Stock to Swing Trade This Week 2024 – Minerals Technologies (MTX).
Trade Details: Friday, 26 July 2024, Minerals Technologies (MTX) stock price closed at $80.50. The stock is trading in a bullish trend, creating higher highs and higher lows on the chart. On the weekly timeframe, the RSI shows overbought conditions. The stock price recently reached a previous weekly swing high, collected stop losses, and now shows a big rejection on the weekly candle. We expect the price to retrace to the first minor support zone. If the stock price breaks this minor support zone, the next target could be the trendline on the chart.
Note: If the price breaks above and closes at $90.46, this bearish setup is invalid.
Sell Swing Trade Idea:-
Entry Range: $80-84
SL: $90.50
Target: $75
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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