Short Trade: Evergy, Inc. (EVRG) – 52.78
Trade Details:
- Stock is facing resistance for the third time and price will reverse down again towards its EMA support levels.
- If market sentiment continues its negative trend then hold this trade for bigger profits.
- But if market is positive then keep the SL strict because after trendline breakdown price will show a quick bounce.
- RSI is trading flat and chances of lower levels near 30.
- Risk Reward ratio is also good at 1:2.5 but there is high reward with trailing SL.
Trade, SL, and Target –
Entry = 52.59
Stop Loss = 53.01
Target =Â 51.55
Please note:Â If it opens gap up the wait for the confirmation of breakdown to enter into this trade. Exit above the trendline with SL.
Long Trade: American Water Works Company, Inc. (AWK) – 120.02
Trade Details:
- AWK has already given a breakout above the trendline and price will bounce again towards the last swing high.
- There is also its EMA support levels which will help to give a support for further rise in stock price.
- RSI is also turning bullish and trying to move further higher levels.
- If price reverses from the top then you can wait for entry and enter only when price triggers our entry level.
- Risk Reward Ratio is also good more than 1:3. Keep trailing your SL.
Trade SL and Target –
Entry = 120.13
Stop Loss =Â 119.44
Target = 122.30
Please note:Â Be strict with stop loss and enter only when price triggers our entry levels. Keep trailing on profit side.
Bullish Trade: International Paper Company (IP) – 38.21
Trade details:
- Price is taking support at its EMA levels so you can go long with a small SL.
- This is the 3rd time price is hitting the same levels as a support and will try to bounce again towards higher levels.
- Volume is also increasing and will try to improve with price increment.
- Rsi is bullish and currently trading at 40 and will go up further.
- You can trail your SL to increase the profits further.
Trade SL and Target –
Entry =Â 38.30
Stop Loss =Â 37.91
Target =Â 39.48
Please note: Stock will reverse with positive market sentiment so secure profit with trailing SL and aim for bigger profits.
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