Stock Analysis: Best Stock to Swing Trade This Week Aug 2024 . This week’s top swing trade opportunity is Lattice Semiconductor Corporation (LSCC).
Trade Details: As of Thursday, August 8, 2024, Lattice Semiconductor Corporation (LSCC) closed at $47.33. The stock has been trading in a strong bullish trend on the monthly time frame, consistently forming new higher highs (HH) and higher lows (HL). However, the monthly chart now displays a head and shoulders pattern at the previous high swing. The stock has recently broken and closed below the neckline of this pattern, signaling a potential bearish reversal. We anticipate a retracement back to the neckline, followed by a possible drop to the demand zone below after testing the internal swing. The RSI indicator on the monthly chart also shows strong divergence, further supporting this bearish outlook.
Note: If the price breaks and closes above $85, this bearish setup becomes invalid. (Best Stock to Swing Trade This Week Aug 2024 )
Sell Swing Trade Idea:-
Sell Entry range @ = 64-74
SL @ = 81
Target 1 @ = 40
Target 2 @ = 33
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.
To get regular updates on stocks, please join our Discord community.
Our Articles on Long-Term Stock Analysis My best read on trading is this Book