Stock Analysis:-Best Swing trading stocks for next week – Redfin Corporation(RDFN).
Trade Details: Monday, 9th September 2024 – Stock: Redfin Corporation (RDFN) Price closed at $10.43.
Starting with the monthly time frame, Redfin Corporation (RDFN) has experienced a significant decline from its peak of $98.
The stock has been in a consistent downtrend, forming lower lows and lower highs on the chart. In November 2022, it hit an all-time low of $3.
Currently, the stock appears to be rebounding, showing potential movement toward the upside. The price is holding above the 50 EMA, acting as a support, which signals a possible upward trend.
On the weekly time frame, there’s a shift in market structure from bearish to bullish, suggesting that further upside movement could occur in the coming weeks.
Note: If the price breaks and closes below $4, this bullish setup becomes invalid.
Buy Swing Trade Idea:-
Buy Entry Range: $9 – $7.90
Stop Loss: $4.80
Target 1: $16.50
Target 2: $18.80
Today’s Best Swing trading stocks for next week 2024.
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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