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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