Stock Analysis: Today’s Top Swing Trade Idea for August 5, 2024 – CleanSpark (CLSK).
Trade Details: On Friday, August 2, 2024, CleanSpark (CLSK) stock price closed at $13.48. If we look at the monthly chart, CleanSpark (CLSK) stock price is trading within a pennant pattern and continues to respect its trendlines.
According to the weekly timeframe, the stock price respects the pennant trendline and has formed a head and shoulder pattern. There is also a previous swing supply zone on the chart. According to the daily timeframe, the price has broken and closed below the head and shoulder pattern. We will plan a short position after the price retests its own neckline price area.
Sell Swing Trade Idea:-
Sell Entry Range: $14-18
Stop Loss: $21.50
Target 1: $10
Target 2: $7
Note: If the price breaks and closes above $21, then this short setup is invalid.
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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