Stock Analysis: Best stock to swing trade this week 2024 – WEC Energy Group (WEC).
Trade Details: Thursday, 1 August 2024, WEC Energy Group (WEC) stock price closed at $88.72. WEC Energy Group (WEC) is trading in a bullish trend on the monthly time frame, consistently creating higher highs and higher lows (HH-HL) on the chart. Recently, the stock price tested the monthly demand zone and is attempting to start a bullish trend again. On the weekly chart, the stock is trading within a falling wedge and has now broken and closed above this pattern. We plan to enter a buy trade when the price retraces and tests the previous demand zone level.
Note: If the stock price breaks and closes below $78, this bullish setup is invalid.
Bullish Swing Trade Setup:-
Buy Entry Range: $86-$82
Stop Loss: $79
Target: $100
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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