Yes, this is called stop loss, see point 6 in this answer.
When you’re selling, select “Stop” instead of “Market”, enter a price of $580 and the stock will be sold automatically once the price drops below that.
Sometimes, stock prices can drop very rapidly, meaning that by the time your order is executed, you’re only getting e.g. $550 per share. To prevent this, go to “Stop Limit” and set the minimum price you want to sell at. For example, you could choose a stop price of $580 and a limit of $570.