BUY Trade: Ulta Beauty, Inc. (ULTA) – 388.46
Best Trading
Trade Details:
- This stock is reversing from the lower support zone.
- We can see a trendline breakout above the 390 level.
- Trendline breakout increases the chance of bouncing back from the current price.
- Ignore this trade if this stock gives a breakdown below the last lower swing or SL.
- RSI is looking bullish and it may go to the higher levels.
- Trail your stop loss at entry price after getting a 1:1 risk reward.
- Risk Reward 1:2.5+
Trade, SL, and Target –
Entry = Above 390.20
Stop Loss = 386.62
Target = 400
Please note: If it opens Gap Down, ignore this stock and enter when the price crosses upwards after a flat opening.
Bullish Trade: Union Pacific Corporation (UNP) – 204.30
Trade Details:
- In UNP, there is a trendline breakout on the hourly charts.
- It is moving upwards after a small pullback and showing breakout confirmation.
- It may hit the upper 200 EMA resistance levels.
- You can keep your stop loss below 203.51
- RSI is bullish and trading above 60
- Risk Reward = 1:3
Trade SL and Target –
Entry = Above 205
Stop Loss = 203.51
Target = 209.50
Please note: Follow the Stoploss strictly and don’t trade if this stock opens Gap Down.
Contra Trade: Take-Two Interactive Software, Inc. (TTWO) – 143.13
- This stock is resisting the upper resistance of around 143 levels.
- It may become negative below 143 because this level is a support.
- If you want more confirmation on trade then trade only if the market sentiment is negative.
- RSI is trading around 70 and it may go down to 50.
- 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 = 1:2+
Trade SL and Target –
Entry = 142.80
Stop Loss = 143.87
Target = 140.50
Please note: Trade only below 143 and must exit around its 200 EMA support zone.
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