Best Stocks to Trade |BUY & SELL| 29 Feb -

Bearish Trade: Packaging Corporation of America (PKG) – 176.36

Best Stocks Bearish

Trade Details:

Taking Resistance at the upper trendline, it may fall again as per past price action records.
Current levels will acts as a supply zone and stock may show a good pullback.
It may fall towards its moving average line which will be our final target.
It is trading in a channel and we must see a pullback if the market sentiment will become negative today.
RSI may reverse from the top as it is trading at the overbought zone and will become negative.
The stock has stretched too much in this month.
Risk Reward 1:3+

Trade, SL, and Target –

Entry = 176

Stop Loss = 177.60

Target = 170.21

Please note: if the market sentiment is positive then ignore this trade. For more confirmation enter below 175.

This stock is reversing after taking support at its trendline support and preparing for a bounce to the upside.
After crossing its MA line it will show some strength and price may hit 285 levels.
If it breaks down the lower swing then ignore this trade for now.
If it opens the gap down or below the last candle low then ignore this trade because after that it may fall sharply.
RSI is trading bullish and it may touch 75 levels again.
Trail your stop loss to the entry price after getting a 1:1 risk reward.
Risk Reward = 1:2.5+

Entry = 276.12

Stop Loss = 273.80

Target = 282.47

Please note: Ignore this trade if the market sentiment is negative and it opens gap down.

This stock is now trading at the upper resistance level, it may give a pullback towards its support zone.
There is also a higher resistance zone which also acts as a supply zone.
It is trading too far from its EMA and may show a pullback towards its EMA levels near 73.30
You have to be alert at 74 levels because it may reverse from that levels so you can book profits or trail with SL.
RSI is reversing from the higher levels and heading towards its lower support zone.
Strictly follow the Stoploss and Target and trail your stop loss around cost after getting a 1:1 risk-reward on your trade.
Risk Reward = 1:3

Entry = 74.98

Stop Loss = 75.52

Target = 73.50

Please note: If it crosses above the last higher swing then exit or you can also reverse the trade for upside.

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