Best Trading Ideas |BUY & SELL| 11 Oct

BUY Trade: O’Reilly Automotive, Inc. (ORLY)– 918.13

Best Trading

Trade Details:

1. This stock is trading at its EMA resistance and it may further break the current resistance levels.
2. If the market opens a Gap down then it may fall again to the lower channel.
3. Ignore this trade if this stock gives a breakdown below the last lower swing of 914.
4. RSI is in the bullish zone, It shows the bullish signal from current levels.
5. Trail your stop loss at entry price after getting a 1:1 risk reward.
6. Risk Reward 1:3+
   
   Trade, SL, and Target –

Entry = 920

Stop Loss = 914

Target = 940

Please note: If you want to enter into trade with high confirmation then enter into trade above 922.

Sell Trade: United Rentals, Inc. (URI) – 448.87

Trade Details:

1. Facing resistance at the upper horizontal line.
2. There is a trendline from the upper levels and it may respect its trendline as the resistance.
3. Falling below its 200 EMA makes it weaker on the hourly charts.
4. You can keep your stop loss strict, if you are ready to take more risks then keep your SL above the last upper swing.
5. RSI is in the overbought zone and going down slowly.
6. Trail your stop loss to the entry as it goes below 200 EMA.
7. Risk Reward = 1:2.5

Trade SL and Target –

Entry = 447.85

Stop Loss = 451

Target = 440

Please note: Trade this stock if the overall market sentiment is negative. Hold this trade if it closes in our favor.

Long Trade: Sysco Corporation (SYY) – 64.27

1. Trendline breakout and it may shoot up after a small pullback as seen on the above charts.
2. It is going towards it EMA levels which will act as a resistance level.
3. Price also takes support at the previous support levels of 64.
4. Trade only above the entry point otherwise it may reverse to the lower levels.
5. RSI is trading at 55 levels and it may go up again up to 70 levels.
6. Strictly follow the Stoploss and Target and trail your stop loss around cost after getting a 1:1 risk reward on your trade.
7. Risk Reward = 1:3.5

Trade SL and Target –

Entry = 64.70

Stop Loss = 64.19

Target = 66.50

Please note: Only trade when it crosses the last upper swing or above 64.70

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