What Makes This Trade Great: $AGIO BreakdownBy Barrie Einarson
What Makes This Trade Great: $AGIO BreakdownBy Barrie Einarson
Dec 9, 2024
Good morning, everyone!
Today, we’re diving into an excellent trade opportunity spotted by our AI system: $AGIO. This trade has already delivered a solid move, and there’s potential for more. Let’s break it down.
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The Alert
Our AI flagged $AGIO as a short opportunity at $52.70. For those who like to wait for a bit of confirmation, watching the price break below the VWAP (that red line on the chart) was another option. Sure, you might’ve sacrificed about 50 cents on entry, but in the grand scheme of things, that’s not a dealbreaker when targeting larger moves.
The Move So Far
This stock has already dropped 7% and is now trading below the significant psychological level of $49. That kind of price action is what makes this trade stand out—clear momentum and technical breakdowns that continue to validate the short setup.
Room to Fall
Looking at the weekly chart, there’s minimal support until about $43. While it’s not guaranteed to reach that level, the lack of nearby support zones suggests further downside is a strong possibility. This is what I mean when I say, “Keep an eye on this one.”
Key Takeaways
- AI at Work: The initial alert was a product of AI scanning for high-probability setups.
- VWAP Confidence: Waiting for a break below the VWAP confirmed the trend.
- Bigger Picture: The weekly chart adds context to why this trade has room for further movement.
What’s Next?
If you’re still in the trade, manage your risk and monitor key levels as the day progresses. If you’re on the sidelines, keep $AGIO on your radar—it’s not done showing us its story just yet.
Until tomorrow, trade smart and stay disciplined!