Best Trading Ideas |BUY & SELL| 14 Nov

BUY Trade: M&T Bank Corporation (MTB) – 116.86

Best Trading

Trade Details:

1. This stock is consolidating and its RSI is sliding down which indicates the new upcoming bullish momentum.
2. If the market opens a Gap down then it may fall again to the lower channel. So ignore it in case of a gap-down opening.
3. It may try to hit its upper trendline resistance again.
4. After crossing above its EMA you can trail your stoploss at your entry price.
5. RSI is negative and currently trading at 40. It must be reversed to higher levels.
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 = 117.21

Stop Loss = 115.93

Target = 121.10

Please note: This stock is in a downtrend so enter into a trade with very strict stoploss. If it goes in favor than you can hold this trade for bigger targets.

Sell Trade: Norfolk Southern Corporation (NSC) – 199.07

Trade Details:

1. This is trading too far from its EMA so it may fall down to its moving average support.
2. There is also a strong resistance
3. Falling below its 200 EMA makes it weaker on the hourly charts. so, you can also hold this trade with trailing stoploss.
4. You can keep your stop loss strict because it is currently in an uptrend and we are planning for reversal.
5. RSI is in the overbought zone and it will go down slowly.
6. Risk Reward = 1:3+

Trade SL and Target –

Entry = 198.97

Stop Loss = 200.18

Target = 195.15

Please note: Ignore this stock if it opens a very big gap up. trade only in downward trend.

Long Trade: AT&T Inc. (T) – 15.58

1. Trendline breakout and it may shoot up after a small pullback as seen on the below charts.
2. It is going to cross it EMA levels which will act as a resistance level and a trendline breakout.
3. Price also takes support at the previous support levels of 15.50 levels.
4. Trade only above the entry point otherwise it may reverse to the lower levels.
5. RSI is trading at 45 levels and it may go upto 70-75 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 = 1:2.5+

Trade SL and Target –

Entry = 15.58

Stop Loss = 15.45

Target = 15.95

Please note: If you want to trade with more conformity then enter into a trade above its moving average line which is also a trendline breakout. 

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