Stock Analysis:- Today’s best swing stock idea for july 2024 is Amphenol Corporation (APH).
Trade Details:
- Date: Wednesday, July 17, 2024
- Closing Price: $64.22
On the weekly time frame, the market trend is bullish, with the price continuing to make higher highs (HH) and higher lows (HL). The stock is trading within a broadening wedge pattern. The RSI indicator shows that the price is overbought, and the stock has created major support levels near previous internal swings.
On the daily time frame, the market trend has shifted from buy to sell. The stock price has created strong resistance near the old high swing. We plan to enter a sell trade if the market price retraces to the $66-$68 range.
Note: If the price breaks above $71, this setup will be invalid.
Sell Swing Trade Ideas:-
Entry Price Range: $66-$68
Stop Loss (SL) Price: $71
Target 1: $62
Target 2: $59
Note: Keep trailing your stop loss to secure bigger profits.
Please note this is only an opinion and not financial advice.
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