Stock Analysis: Today’s Best Top Swing Trade Idea for 1 August 2024 – Cbiz (CBZ).
Trade Details: Wednesday, 31 July 2024, Cbiz (CBZ) stock price closed at $69.40. We will start from the weekly time frame on the chart. This stock price is trading in a strong bullish trend and continues to create higher highs and higher lows (HH-HL) on the chart. However, in the current scenario, the weekly candle has broken the previous HL on the chart and has formed an engulfing pattern. The weekly time frame RSI also shows divergence on the chart. We plan to open a short position when the price retests the order block zone.
Note: If the price breaks and closes above $86, then this short setup is invalid.
Sell Swing Idea:-
Sell Entry Range: $74-$80
Stop Loss: $86
Target 1: $66
Target 2: $60
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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