Ming Jong Tey
Independent Analyst
Affirm (AFRM) stock is showing signs of a bottoming structure, but it's taking time to fully develop. Here’s what to watch:
Key market movements
-
Grinding action followed by a strong rally to support.
-
The stock is currently testing support levels.
Potential trade setups
-
Watch for a bullish reversal bar to confirm upward momentum.
-
Target a reward-to-risk ratio of 2-to-1 for swing trades.
Timing and strategy
-
This setup could offer a quick swing trade within 1-2 weeks.
-
Expect potential consolidation before the next big move.
Trading plan for Affirm (AFRM) stock [Video]
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Recommended content
Editors’ Picks
EUR/USD holds gains near 1.0950 ahead of US PPI data
EUR/USD is back on the bids, hovering around 1.0950 in the European session on Friday. Despite, a broad-based US Dollar retreat, the pair seems to lack further bullish impetus, as risk sentiment remains sour ahead of US producer inflation data and Fedspeak.
GBP/USD rises toward 1.3100 after UK data
GBP/USD has gained upside traction toward 1.3100 during Friday's European trading, in a delayed reaction to the UK GDP and the industrial growth in August. Traders now look to the US PPI data for short-term impetus, as the US Dollar consolidates weekly gains.
Gold price remains below $2,650 amid modest USD uptick, look to US PPI for fresh impetus
Gold price attracts some follow-through buying for the second straight day on Friday and recovers further from a nearly three-week low, around the $2,602 area touched the previous day.
Bitcoin finds support around $60,000
Bitcoin is finding support around the key level, and a close below this level could signal a decline. Ethereum is approaching a critical resistance barrier; rejection from this level suggests a decline ahead. Meanwhile, Ripple is stuck in a range, reflecting a period of indecision among traders.
RBA widely expected to keep key interest rate unchanged amid persisting price pressures
The Reserve Bank of Australia is likely to continue bucking the trend adopted by major central banks of the dovish policy pivot, opting to maintain the policy for the seventh consecutive meeting on Tuesday.
Five best Forex brokers in 2024
VERIFIED Choosing the best Forex broker in 2024 requires careful consideration of certain essential factors. With the wide array of options available, it is crucial to find a broker that aligns with your trading style, experience level, and financial goals.