Best Trading Ideas |BUY & SELL| 14 Feb -

BUY Trade: Paychex, Inc. (PAYX) – 121.39

Best Trading

Trade Details:

This stock is trading at the lower support levels and it will trying to bounce again towards higher levels.
If the market opens a Gap down then it will consolidates near the lower support area so you can enter only after a bounce.
It may try to hit 125 levels after a breakout of 123 levels on the upper side with the positive market sentiments.
After crossing above 123 you can trail your stoploss at your entry price.
RSI is bullish and currently trading at 46. It must be bounce to higher levels soon.
Trail your stop loss at entry price after getting a 1:1 risk reward.
Risk Reward 1:2.5+

Trade, SL, and Target –

Entry = 121.60

Stop Loss = 120.39

Target = 125

Please note: It may go sideways in between 120.5-122. So, make an entry only it triggers our entry levels.

It is resisting at the upper trendline levels and it may breakdown from current levels.
There is also a support and we are expecting a sharp fall after a small moving average breakdown.
Falling below its moving average makes it weaker on the hourly charts. So, you can also hold this trade with trailing stoploss.
You can keep your stop loss strict because it is currently in an uptrend and we are planning for reversal.
RSI is near the overbought zone and it will go down slowly towards lower levels from now.
Risk Reward = 1:4

Entry = 103.40

Stop Loss = 104.25

Target = 100

Please note: If it opens gap up then wait for the price to triggers our entry levels then go short on this trade.

Expecting a bounce from trendline support which indicates the strong bullish sign in stock.
It is taking support after the breakout and will go very quickly above its moving average.
Price is also taking support at the previous support around 67 levels.
Trade only above the entry point otherwise it may reverse to the lower levels.
RSI is trading near 50 levels and it may go upto 70-75 levels.
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 = 1:3.5+

Entry = 67.26

Stop Loss = 66.68

Target = 69.48

Please note: It has already given a breakout and now preparing for good bounce after a small pullback at breakout levels.

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