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HomeTrading IdeaBest Trading Ideas |BUY & SELL| 06 Feb

Best Trading Ideas |BUY & SELL| 06 Feb

BUY Trade: Public Storage (PSA) – 274.16

Best Trading

Trade Details:

  1. This stock is giving a pullback and now preparing for the bounce towards higher levels.
  2. If the stock opens a Gap down then it may fall again to the lower channel. So ignore it in case of a gap-down opening.
  3. It may try to hit its upper resistance near 282 because it is trading in a parallel channel.
  4. There is its moving average which will also acts as a support levels.
  5. After crossing above 277.50 you can trail your stoploss at your entry price.
  6. RSI is bearish and currently trading near the bottom. It must be bounce to higher levels soon.
  7. Trail your stop loss at entry price after getting a 1:1 risk reward.
  8. Risk Reward 1:4

    Trade, SL, and Target –

Entry = 273.55

Stop Loss = 271.85

Target = 282

Please note: If it opens gap up then wait for enter. Only enter if it crosses downwards to upwards and triggers 273.77

Sell Trade: Stryker Corporation (SYK) – 348.32

Trade Details:

  1. It is taking resistance at the top near 350 levels and it may fall back from the current levels oy try to fill out the gap.
  2. There is also a psychological levels of 350 which will acts as a supply zone.
  3. EMA is acting as a support levels and price is also looking bearish at top levels near 350.
  4. You can keep your stop loss strict because if it breaks 350 then it may increase quickly.
  5. RSI is trading at overbought zone so it may try to cool down and slips towards 320.

Trade SL and Target –

Entry = 347.87

Stop Loss = 350.66

Target = 336.70

Please note: This stock will open gap up and we will plan to short near 350. Short when it start crossing 348 downwards.

Long Trade: Omnicom Group Inc. (OMC) – 88.80

  1. Expecting a bounce from lower support zone which indicates the strong bullish sign in this stock.
  2. This trendline breakdown might be a trap for sellers and then it will move towards higher levels again.
  3. It is trading below its moving average support now. If you want to trade with high confirmation then enter only above its moving average.
  4. Price is also taking support at the previous support around 88 levels.
  5. Our target will be the upper resistance zone of 91.
  6. Trade only above the entry point otherwise it may fall to the lower levels.
  7. RSI is trading at 39 levels and it may go upto 70-75 levels.
  8. Strictly follow the Stoploss and Target and trail your stop loss around cost after getting a 1:1 risk reward on your trade.
  9. Risk Reward = 1:3

Trade SL and Target –

Entry = Above 89

Stop Loss = 88.10

Target = 91.79

Please note: If it breaks the lower support zone then must exit at SL. You can try to re-enter when it reverses upward.

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