Stock Analysis:-Today’s Top Swing Trade Idea for next week- Agios Pharmaceuticals(AGIO).
Trade Details: Thursday, 5 September 2024 – Agios Pharmaceuticals (AGIO)
Stock price closed at $44.
When analyzing Agios Pharmaceuticals (AGIO) from the monthly time frame, the stock has been trading in a bearish trend, consistently creating lower lows (LL) and lower highs (LH) on the chart.
The price is currently moving within a falling wedge pattern on the monthly chart. Previously, it has already tested its all-time low of $16.
On the weekly chart, a bearish Bat harmonic pattern has completed, signaling a potential drop in the coming weeks. Additionally, a “M” pattern has formed on the weekly time frame, further indicating downward movement.
Note: If the price breaks and closes above $51, this bearish setup becomes invalid.
Sell Swing Trade Idea:-
Sell Entry Range: $44 – $48
Stop Loss: $50.50
Target: $36
You know Today’s Top Swing Trade Idea for next week- Agios Pharmaceuticals(AGIO).
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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