Best Trading Ideas |BUY & SELL| 07 Feb

BUY Trade: The Boeing Company (BA) – 208.58

Best Trading

Trade Details:

1. This stock has formed a consolidation zone and it seems like will give a breakout above the upper trendline.
2. There is a symmetrical triangle pattern, we can expect a big move after breakout.
3. This will give a breakout or breakdown. Our high conviction is on Upside.
4. If the market opens a Gap down then wait for the trendline breakout it may bounce again to the higher levels or towards our target price.
5. Ignore this trade if this stock doesn’t breakout. we don’t enter on selling side.
6. RSI is becoming bullish after trading in a flat range. It may shoot up to 80 levels.
7. Trail your stop loss at entry price after getting a 1:1 risk reward.
8. Risk Reward 1:6
   
   Trade, SL, and Target –

Entry = Above 209

Stop Loss = 207.30

Target = 219.75

Please note: If you want to trade with high confirmation then enter into this trade only if it gives a breakout of the triangle pattern above white trendline.

Bullish Trade: The Goldman Sachs Group, Inc. (GS) – 385.75

Trade Details:

1. This stock’s will try to give a breakout above the upper trendline.
2. There was a trendline earlier from the current levels and after respecting its trendline as the support now it is ready for a breakout above the last resistance levels.
3. It has a perfect price action and triangle pattern for the next breakout.
4. You can keep your stop loss strict, if you are able to take high risks then keep your SL below the last lower swing.
5. RSI is in very bullish trend and trading above 50, it will continue with the over all market trend.
6. If it gives a breakdown then ignore this trade because it may be trap for sellers and again it will become positive.
7. Risk Reward = 1:3

Trade SL and Target –

Entry = 385.75

Stop Loss = 382.67

Target = 395

Please note: Ignore this trade if it starts trading below the white trendline and enter only when it triggers our entry price.

Long Trade: Marathon Petroleum Corporation (MPC)– 166.62

1. This stock is trying to give a reversal from the lower Moving Average support levels.
2. Enter only if reversing from its EMA support levels with very good bullish candles.
3. Over all Oil sectors has good news and starting a new bullish trend.
4. Trade only above the entry point otherwise it may reverse to the lower levels and continue in the same range.
5. RSI is trading flat in a bullish zone and it may go up again up to 75 levels.
6. Strictly follow the Stoploss and Target and trail your stop loss around cost after getting 1:1 risk reward on your trade.
7. Risk Reward = 1:5

Trade SL and Target –

Entry = 167.60

Stop Loss = 166.25

Target = 174.25

Please note: Trading at lower MA support, enter only if it bounces otherwise it may slips further.

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