Become a logicalchat Member

Latest Post

What are Your Biggest Financial Challenges for Canadians?

Canadians are known for their resilience, but there's no denying that our financial landscape is getting tougher. From rising inflation to staggering housing costs,...

Your story starts here. Sign up and let's connect in ways that truly matter!

HomeUncategorizedBest Trading Ideas |BUY & SELL| 17 July

Best Trading Ideas |BUY & SELL| 17 July

Bullish Trade: Regeneron Pharmaceuticals, Inc. (REGN) – 718

Trade Details:

  1. This stock always fills the GAP after a gap-up or gap-down opening.
  2. Strong Resistance around the 707 level.
  3. If this stock goes up from 1st day after crossing 720 then it should go to higher levels.
  4. Rsi is around 50, this may turn bullish.
  5. You can Trail your stop loss at entry price after getting 1:1 risk reward.
  6. Risk Reward 1:5
  7. 1st target is at 735, all purple lines are the target.

    Trade, SL, and Target –

Entry = Above 720

Stop Loss = 711.88

Target = 735, 750 & 763

Please note: This stock may come around 707 first and then gives a breakout. So, trade with less quantity, you can hold this trade for the next trading sessions. It directly breaks out to 720 otherwise it can first come to 707 and reverse then you can enter with a SL of 699.

Sell Trade: American Electric Power Company, Inc. (AEP) – 87.22

Trade Details:

  1. Reversing from trendline of upper support range
  2. RSI seems weak and in downtrend from upper levels.
  3. It is far away from 200 EMA which increases the chances to downtrend in small time frame and touches 200 EMA.
  4. Risk-Reward = 1:3, it may touch lower levels if it breaks the support trendline, but don’t forget to trail your stop loss accordingly.
  5. Trail your stop loss to the entry price after getting a 1:1 risk reward.

Trade SL and Target –

Entry = Below 86.85

Stop Loss = 87.65

Target = 85.20 & 84.50

Please note: Don’t trade in case of a Gap up over the trendline or big Gap down opening. Trade only if it opens flat and triggered the price of 86.85. It may take more than one trading sessions to trigger target price.

SHORT Trade: MGM Resorts International – 48.26

  1. Trade only if it opens falt and give a breakdown below 48.
  2. Our first target will be 200 EMA and you can trail your stoploss at 47.50
  3. Following the trendline from as resistance
  4. Risk-Reward = 1:2
  5. RSI is in a downtrend and it will move towards 30 or below 30.

Trade SL and Target –

Entry = Below 48

Stop Loss = 48.92

Target = 46.10 & 45

Please note: If it opens gap up or gap down then do not enter in this trade and after trendline breakout you must have to exit from this trade. You can trail your stoploss at your entry price after getting 1:1 Risk reward.

To get regular updates on stocks, please join our Discord community.

Our Articles on Long-Term Stock Analysis

My best read on trading is this Book

Related Post