Best Trading Ideas |BUY & SELL| 09 Nov

BUY Trade: FedEx Corporation (FDX) – 245.37

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Trade Details:

1. This stock is consolidating in a range and it must bounce to higher levels.
2. We can see a range breakout after a long-range formation.
3. It already gives a trendline breakout and after a small pullback, it may bounce again.
4. Ignore this trade if this stock gives a breakdown below the rectangular zone.
5. RSI is looking bullish and it may go to the higher levels and seems like a breakout after a long consolidation.
6. Trail your stop loss at entry price after getting a 1:1 risk reward.
7. Risk Reward 1:3
   
   Trade, SL, and Target –

Entry = 245.65

Stop Loss = 243.56

Target = 251.98

Please note: Enter into this trade only after the breakout above the consolidation range. Be ready to trail your SL.

Bullish Trade: Arch Capital Group Ltd. (ACGL) – 84.12

Trade Details:

1. There is a trendline support and it may bounce from the lower levels.
2. It is Heading toward its upper range around 87 and 90.
3. You can hold this trade for more than a week for the bigger target levels around 90.
4. You must trail your stoploss when it crosses 85.80.
5. RSI is reversing from the lower levels and it must go to higher levels of 70.
6. Risk Reward = 1:3.75

Trade SL and Target –

Entry = 84.26

Stop Loss = 83.47

Target = 87.22

Please note: Ignore this trade if it starts trading below its trendline. You can also wait for the higher target of 90 within a week.

Reversal Trade: Royal Caribbean Cruises Ltd. (RCL) – 95.42

1. This stock is resisting the upper resistance of around 96-97 levels.
2. It may go opposite above the resistance lines of 97.
3. If you want more confirmation on trade then trade only if the market sentiment is negative.
4. RSI is trading above 70 and it may go down to 50. Also formation of a double-top bearish pattern.
5. Strictly follow the Stoploss and Target and trail your stop loss around cost after getting a 1:1 risk reward on your trade.
6. Risk Reward = 1:3.5

Trade SL and Target –

Entry = 95.23

Stop Loss = 96.12

Target = 92.08

Please note: If it directly opens the gap down then don’t enter into this trade and exit above the resistance zone.

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