Stock Analysis:- Today’s best swing stock idea for july 2024 is Five Below (FIVE).
Trade Details:–
Date: Thursday, July 18, 2024 Closing Price: $75.75
On the monthly time frame, Five Below’s stock price is trading in a buy trend, creating a continuous pattern of higher highs (HH) and higher lows (HL). The monthly chart shows an M pattern forming near the $70 support level. The price range from $70 to $48 is a strong monthly demand zone. Additionally, a harmonic pattern is completing near the $70 price level.
We expect the next move to be a bounce up from the demand zone to the supply zone.
Note: If the price breaks below $27.68, this buy setup will be invalid.
Buy Swing Trade Ideas:-
Entry Price Range: $50-$75
Stop Loss (SL) Price: $40.19
Target 1: $111
Target 2: $142
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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