Bullish Trade: ON Semiconductor Corporation (ON) – 96.47
Best Trading
Trade Details:
- The chart shows the bullish sign with the Pole and Flag Pattern.
- Reversing from the strong previous 200 EMA support zone.
- After the formation of the double bottom pattern, it went up and now consolidating in the range.
- After the range breakout, this stock may cross the go-up
- RSI is trading in the normal zone as flat.
- You can hold this trade for a few days for a better move.
- Risk Reward 1:4
Trade, SL, and Target –
Entry = Above 97.27
Stop Loss = 95.90
Target = 102.50
Please note: This trade takes a few days to hit target. You can also enter again in this trade if it hits SL in first try because SL is too Low.
Sell Trade: Ingersoll Rand Inc. (IR) – 66.56
Trade Details:
- This stock breaks its 200 EMA support and gives a pullback around EMA which acts as a resistance zone.
- Facing resistance at the EMA after breaking at first time, it may go down again to the lower support zone.
- Do not trade if this crosses above 200 EMA.
- RSI is also in a downtrend showing a bearish momentum.
- Risk Reward = 1:3
Trade SL and Target –
Entry = 66.83
Stop Loss = 67.30
Target = 65.43 / 64
Please note: Enter with strict SL and it may consolidate for a few hours in between. Trail your SL after getting 1:1 risk-reward.
Long Trade: Illinois Tool Works Inc. (ITW) – 239.67
- This stock is consolidating at the resistance levels of a BIG consolidation phase.
- It may give a breakout from the current levels above the zone and touch its upper resistance levels.
- Trade only when there is a breakout, don’t trade in the range.
- The last 5-6 candles is in the same zone and if it breaks this zone there will be a good chance to see upper levels.
- RSI is very bullish and crosses the last falt zone.
- Strictly follow the Stoploss and Target and trail your stop loss at cost if the price goes above 242.25
- Risk Reward = 1:3
Trade SL and Target –
Entry = Above 240.10
Stop Loss = 238.67
Target = 244.50
Please note: Don’t enter into trade if the price reverses from the current levels or opens Gap down.
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