BUY Trade: Ingersoll Rand Inc. (IR) – 59.75 (Pre-opening)
Best Trading
Trade Details:
- This stock has formed a pattern of rounding bottom and reversing into a bullish trend.
- If the market opens a Gap down then it may bounce again to the higher levels or towards our target price.
- Ignore this trade if this stock doesn’t reverse and fall again after gap down opening.
- RSI is in the bullish zone and it will go to the bottom after gap-up opening then will become bullish again.
- Trail your stop loss at entry price after getting a 1:1 risk reward.
- Risk Reward 1:4+
Trade, SL, and Target –
Entry = 60.05
Stop Loss = 59.58
Target = 62
Please note: This stock will open a gap down and bounce very quickly, 2nd target will be the yellow circle.
Bullish Trade: Catalent, Inc. (CTLT) – 32.18
Trade Details:
- This stock’s chart is making double bottom pattern on the hourly charts.
- There is a trendline from the upper levels and it may respect its trendline as the resistance but it takes more than a week.
- Already shown a very big gap down opening and must reverse towards higher levels.
- You can keep your stop loss strict, if you don’t want to take high risks then keep your SL below the last lower swing.
- RSI is in the oversold zone and sure it will come to higher levels again.
- You can also wait for the bigger target around its EMA or trendline which may hit within the 2nd week.
- Risk Reward = 1:3.5
Trade SL and Target –
Entry = 32.53
Stop Loss = 31.99
Target = 34.50 & 37
Please note: Trade may take a few days to hit target. Trade with your better position sizing because of a higher risk-reward ratio.
Long Trade: Pentair plc (PNR) – 58.92
- This stock is trying to give a range breakout above 59.
- Range Breakout + EMA breakout is at the same time which indicates higher growth.
- It is crossing its EMA levels which is acting as a resistance level.
- Trade only above the entry point otherwise it may reverse to the lower levels and continue in the same range.
- RSI is trading at 57 levels and it may go up again up to 70 levels.
- Strictly follow the Stoploss and Target and trail your stop loss around cost after getting a 1:1 risk reward on your trade.
- Risk Reward = 1:4.5
Trade SL and Target –
Entry = 59.04
Stop Loss = 58.62
Target = 60.96
Please note: Trade only when it crosses upward with positive price action. Don’t enter into trade within first 5-10 minutes
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