Stock Analysis: Today’s Top Swing Trade for 12 August 2024 -Evolent Health (EVH).
Trade Details: As of Friday, August 9, 2024, Evolent Health (EVH) closed at $26.40. The stock has been in a strong bullish trend on the monthly time frame, forming higher highs and higher lows. Currently, a head and shoulders pattern has emerged at the previous swing high. On the weekly time frame, EVH has broken and closed below the neckline of this pattern, and has tested both the neckline and an internal supply zone. We anticipate a price drop in the coming weeks.
Note: If the price breaks and closes above $35, this bearish setup is invalid.
Sell Swing Trade Idea:-
Sell Entry Range: $26 – $32
Stop Loss: $35
Target 1: $20
Target 2: $15.50
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.
To get regular updates on stocks, please join our Discord community.
Our Articles on Long-Term Stock Analysis My best read on trading is this Book