Today’s Top Swing Trade Idea for Next Week – PotlatchDeltic Corporation (PCH).
Trade Details: On Friday, August 23, 2024, PotlatchDeltic Corporation (PCH) closed at $44.16.
Analyzing the monthly time frame, PCH is trading in a bullish trend, consistently forming higher highs and higher lows. From its all-time high of $65, the stock has retraced downward, potentially testing the monthly demand zone around $25. On the weekly chart, the stock has established a lower low and lower high structure. The current weekly candle suggests a retest of an internal lower high swing level. Given this setup, we are planning a bullish trade for the short term.
Note: If the price breaks and closes below $37, this bullish setup becomes invalid.
Buy Swing Trade Idea:-
Entry Range: $43 – $40
Stop Loss (SL): $37.70
Target: $50
Today’s Top Swing Trade Idea for Next Week – PotlatchDeltic Corporation (PCH).
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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