Short Trade: The Mosaic Company (MOS) – 40.46
Best Stock Picks
Trade Details:
- If it breaks the trendline it may touch the lower support zone.
- It has already made a continuous 7 green candle in the Daily time frame chart.
- Wait for the confirmation of the trendline breakdown.
- RSI is reversing from 70 levels in the daily time frame chart.
- Trail your stop loss at entry price after getting a 1:1 risk reward.
- Risk Reward 1:2.5
- Ignore this trade in case of GAP Up opening.
Trade, SL, and Target –
Entry = Below 40.32
Stop Loss = 40.65
Target = 39.50
Please note: Ignore this stock in case of GAP UP opening. Trail your Stoploss at cost after getting 1:1 Risk to reward.
Long Trade: Nucor Corporation (NUE) – 168.92
Long
Trade Details:
- This stock is taking support at the trendline and it may bounce to the upper resistance zone.
- Continuously increase in trading volumes
- RSI is below 25 and it will bounce from here to the higher levels.
- Trail your stop loss to the entry price after getting a 1:1 risk reward.
- Risk Reward = 1:3
- The upper rectangular zone is the high-resistance zone.
Trade SL and Target –
Entry = Above 169.34
Stop Loss = 168.44
Target = 172
Please note: You can hold this trade for the next trading session if it doesn’t hit our target today and trail your stop loss accordingly.
Bearish Trade: Best Buy Co., Inc. (BBY) – 84.22
- Currently resisting at the lower trendline area.
- If it breaks the lower support below 83.90 then it may go down to 82.80 and then 82.
- If it opens GAP Up above the trendline ignore this trade.
- RSI is in a negative trend.
- Risk to Reward Ratio = 1:3.4
Trade SL and Target –
Entry = Below 84.23
Stop Loss = 84.52
Target = 82.80 & 82
Please note: Trail your Stop loss at cost when it touches 200 EMA or getting 1:1 risk reward.
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