Stock Analysis: Must-See Stock to Swing Trade This Week 2024 – Janux Therapeutics (JANX).
Trade Details: Monday, 29 July 2024, Janux Therapeutics (JANX) stock price closed at $41.68. On the weekly chart, the stock price is trading in a falling wedge pattern. However, the stock has recently shown strong bullish momentum, breaking and closing above the previous high swing. The current weekly chart shows a head & shoulders pattern above the previous swing high. Ultra-high volume bars also indicate weakness in the market. The RSI indicates that the stock price is overbought and shows divergence. We expect the price to drop to the hidden support zone on the chart.
Note: If the price breaks and closes above the $66 price level, this bearish setup is invalid.
Sell Swing Trade Idea:-
Entry Range: $40-50
SL: $65
Target 1: $25
Target 2: $21
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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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