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Saturday Technical Analysis: Swing Trade Setups to Watch

 
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    TrendAnalyzer analyzing key trends in the market. With a focus on identifying and interpreting market movements, TrendAnalyzer provides insightful updates and actionable insights to help investors understand and capitalize on emerging trends.

     
 
 
 

Apple Inc. ($AAPL)

 

Apple’s recent performance has been bolstered by strong services revenue, up 12% year-over-year. This momentum may set up a potential cup-and-handle pattern, commonly seen before breakouts. The current consolidation could provide a strong base for a breakout above $229.75 if volume picks up.

 
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Entry: Consider entering near $224, watching for a close above $229.75 for confirmation.
 
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Exit: Potential target around $235-$240 based on recent highs.
 
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Stop-Loss: Place a stop near $220 to limit downside risk.
 

Arch Capital Group Ltd ($ACGL)

 

ACGL has recently dropped below its 200-day moving average of $97.99, a key technical level. This break can indicate weakness; however, it may also signal a double-bottom formation if the stock finds support and begins to rise toward the $111.26 resistance.

 
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Entry: Enter on a reversal above $98, confirming support at the 200-day moving average.
 
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Exit: Target $110 for a swing trade.
 
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Stop-Loss: Set a stop at $94 to protect against further declines.
 

Anheuser-Busch InBev SA/NV ($BUD)

 

BUD recently crossed below its 200-day moving average of $62.03, testing support at $59.30. This drop may signal a potential head-and-shoulders pattern, a bearish setup. However, if it finds support at this level, it could also form a base for a reversal.

 
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Entry: A bounce off $59.30 could be a signal to enter, with a confirmation above $60.
 
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Exit: Target resistance at $63.42.
 
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Stop-Loss: Set a stop below $58 to avoid larger losses.
 

Chevron Corp ($CVX)

 

Chevron’s strength has been consistent with rising oil prices. The stock recently bounced off its 200-day moving average at $153, making it a candidate for a cup-and-handle setup if it consolidates before a breakout.

 
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Entry: Enter on a close above $153.50 with volume.
 
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Exit: Target $160-$165 if breakout is confirmed.
 
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Stop-Loss: Set a stop near $150 to limit downside.
 

Risk Management Strategy:

 

Ensure each position is sized to manage risk effectively, especially for volatile swing trades. Stops should be placed close to entry points to limit losses, and trades should only be entered on clear confirmations of breakout or reversal.

 

These setups offer technical promise, but as always, it’s essential to reassess positions as new price actions unfold. Happy trading on Monday!

 
 
 

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Please note that the article should not be considered as investment advice or marketing, and it does not take into account the personal data and requirements of any individual. It is not a substitute for the reader's own judgment, and it should not be considered as advice or recommendation for buying or selling any securities or financial products.

 
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