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HomeSwing TradingToday's Can't-Miss Best Top Swing Trade Idea for 1 August 2024

Today’s Can’t-Miss Best Top Swing Trade Idea for 1 August 2024

Stock Analysis: Today’s Best Top Swing Trade Idea for 1 August 2024 – Rambus (RMBS).

Trade Details: As of Wednesday, 31 July 2024, Rambus (RMBS) stock price closed at $51.44. According to the monthly time frame, this stock is trading within a monthly ascending channel, continually making new higher highs (HH) and higher lows (HL) on the chart. The weekly chart shows the price attempting to reverse from a monthly supply zone, forming a head and shoulder pattern with clear RSI divergence. On the daily time frame, the price has broken the head and shoulder neckline. We could plan a short position after the price retests its neckline zone.

Note: If the price breaks and closes above the $67 level, this bearish setup is invalid.

Sell Swing Trade Idea:-

Sell Entry Range: $55-60

Stop Loss (SL): $67

Target 1: $38

Target 2: $32

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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