Stock Analysis:- Today’s best swing trade idea for July 23, 2024, is Harmony Gold Mining (HMY).
Date: Monday, July 22, 2024
Closing Price: $9
On the weekly chart, the stock price is in a buying trend. However, the current scenario shows the stock price has reached a strong monthly resistance level (supply) and formed a strong rejection bar at the resistance zone. There is a broadening ascending wedge pattern forming. The stock is trading within this wedge, presenting an opportunity to plan a sell trade towards the downside to the first support zone.
Note: If the stock price breaks to the upside and closes above $11, this sell trade setup will be invalid.
Sell Swing Trade Ideas:-
Entry Price Range: $9-$10
Stop Loss (SL) Price: $11.10
Target 1: $7.70
Target 2: $6.90
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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