- Bearish Trade: Centene Corporation (CNC) – 74
Trade Details:
- Stock is turning from its upper resistance level.
- Current levels will acts as a supply zone and stock may show a good pullback towards 71 to 70 level.
- It is reversing from the EMA resistance level so you can keep trailing your SL.
- If it opens gap down then you can trade with the stop loss on a reversal after little bounce.
- Risk reward ratio is also more than 1:3
Trade, SL, and Target –
Entry = 73.90
Stop Loss = 74.75
Target = 71.55
Please note: Try to trail your stop loss with the momentum and must exit all above EMA.
2. Bullish Trade: MetLife, Inc. (MET) – 70.42
Trade Details:
- This stock is reversing after taking support at its last support and preparing for a bounce to the upside.
- After crossing its MA line it will show some strength and price may hit 72.50 levels.
- If it opens the gap down or below the last candle low then ignore this trade because after that it may fall sharply.
- RSI may turn into 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+
Trade SL and Target –
Entry = 70.71
Stop Loss = 70
Target = 72.50
Please note: Ignore this trade if the market sentiment is negative or it opens gap down.
3. Short Trade: Northern Trust Corporation (NTRS)– 83.38
Trade Details:
- Taking support at the upper trendline levels and preparing for the next pullback towards lower level.
- There will be the sharp fall below 82 levels.
- RSI is also turning negative towards the lower bottom support level and will hit oversold zone.
- Risk reward ratio is also high because there is a high probability of downside from current levels.
Trade SL and Target –
Entry = 83.25
Stop Loss = 83.90
Target = 80
Please note: Trade only it triggers our entry level and keep strict stop loss above the trendline.
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