Stock Analysis: Today’s Top Swing Trade Idea for August 8 2024 – Altair Engineering (ALTR).
Trade Details: As of Thursday, August 7, 2024, Altair Engineering (ALTR) stock price closed at $85.40. On the monthly chart, ALTR is trading in a bullish trend, consistently forming higher highs and higher lows. The stock is also trading within an ascending channel on the monthly time frame. However, the weekly chart reveals a rising wedge pattern, indicating a potential retracement. We expect the stock price to pull back after breaking the rising wedge and target the demand 2 level .
Note: If the price breaks and closes above $100, this bearish setup is invalid.
Sell Swing Trade Idea:-
Sell Entry Range: $86 – $95
Stop Loss: $100
Target: $70
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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