Stock Analysis: Best Top Swing Trade Alert- August 5 2024 – CBIZ (CBZ).
Trade Details: On Friday, August 2, 2024, CBIZ (CBZ) stock price closed at $71. CBIZ (CBZ) is trading in a strong bullish trend, consistently breaking its previous swing highs. However, the current weekly candle has formed an engulfing pattern on the chart. The RSI also indicates that the stock is overbought and shows divergence. On the daily timeframe, the structure has broken. We expect the stock price to decline in the coming weeks. We will plan a short position once the price retests the daily internal swings.
Note: If the price breaks and closes above $86, then this short setup is invalid.
Sell Swing Trade Idea:-
Sell Entry Range: $74-80
Stop Loss: $86
Target 1: $66
Target 2: $60
Note: If the price breaks and closes above $21, then this short setup is invalid.
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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