Best Picks Of The Day |BUY-SELL-HOLD| 3 July

Short Trade: Best Buy Co. (BBY)

Trade Details

1. Formation of Double Top pattern
2. Reversing from a strong Resistance level
3. RSI turning into a Bearish
4. Currently Trades below 7 Days EMA
5. Risk-Reward Ratio = 1:3 (1^st TGT) & 1:5 (2^nd TGT)
   
   

Trade, SL and Target –

Entry = Below 81.75

SL = 82.5

Target 1 = 80.50, Target 2 = 79.6

Please note: You can hold this trade for long until it breaks 82.50 level. TRAIL your Stoploss accordingly. If this trade goes in our favour, it will be the best R:R trade.

Bearish Trade: Entergy Corporation (ETR)

Trade Details

1. Attracting Sellers at this level
2. Exit after crossing above 200 EMA
3. Price is turning after making Wicks
4. Smaller time frame trend reversal
5. RSI is falling from 75
6. Momentum is changing to the downside
7. Risk-Reward = 1:2 (1^st TGT) & 1:3 (2^nd TGT)

Trade SL and Target –

Entry = 97.15 to 97.50

SL = 98.25

Target = 95.15 & 92.60

Please note: This stock is in down trend. Strictly follow the stop loss and trail accordingly to cost after getting 1:1 R:R. It may again go more upside after crossing 100 level because 100 is a psychological level which attract more buyers.

Breakout Trade: American Water Works Company (AWK)

Trade Details

1. Stuck in the channel (zone), we buy at support & exit at resistance.
2. Reversing from Resistance
3. RSI shifting upward from lower levels
4. Risk-Reward = 1:3
5. It may touch the upper resistance level of 200 EMA again.

Trade SL and Target –

Entry = 141.75 to 142.50

SL – 139.90

Target = 147.80

Please note: This Trade may go opposite, you can accumulate at lower level until it hits 141.30 because this is the high conviction trade.

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