Top Stocks To Tarde |BUY & SELL| 18 July

Bullish Trade: The Allstate Corporation (ALL)– 102.4

Trade Details:

1. Stock is reversing from a psychological level of 100.
2. Trade only if it crosses above the previous day’s high of 102.55
3. Trendline resistance in the upper zone.
4. Rsi is reversing from the 30 levels in a daily time frame also.
5. You can Trail your stop loss at entry price after getting 1:1 risk reward.
6. Risk Reward 1:3
7. Big Resistance at 106.50. So, don’t hold this trade.
   
   Trade, SL, and Target –

Entry = Above 102.55

Stop Loss = 101.25

Target = 106 & 108.50

Please note: Don’t trade in case of gap up or gap down opening. This stock may reverse from 104 so you can trail your SL at cost price as it touches 104 levels.

Breakout Trade: Generac Holdings Inc. (GNRC) – 142.88

Trade Details:

1. This stock is trading in range bound. After breaking this zone, it will either break up or down.
2. It will give a very speedy reaction after a breakout.
3. Always look for the index and market sentiments. If market sentiments are positive and stock is negative then trade with very less quantity.
4. These Horizontal lines in the chart are the targets after its breakout.
5. Stoploss should be High or low of the rectangular zone in which the price is consolidated.
6. Trail your stop loss to the entry price after getting a 1:1 risk reward

Trade SL and Target –

Entry = After breaking the consolidated zone.

Stop Loss = High and Low of Consolidation zone in the rectangular box.

Target = All Horizontal lines are targets.

Please note: Don’t trade against the market trend. This stock either breaks Up or Down. Follow the Stoploss strictly. If It gives a breakout, the target should be 147.20 and 151. But if it gives a breakdown then the targets should be 137, 135.30 & 131. You can hold this trade if it gives 1:1 Risk reward today with the trailed stop loss at your entry price.

Short Trade: Merck & Company, Inc. (MRK) – 105.56

1. Trade only if it opens flat or reverses from upper trendline support and gives a breakdown.
2. It may touch the 100 level but you have to follow strict stop loss which is above the trendline
3. This trade has more winning probability if it breaks down after reversing from the upper trendline support.
4. RSI is in a very sharp downtrend.

Trade SL and Target –

Entry = Between 106 to 107 when its touches the trendline.

Stop Loss = Exit immediately after crossing above the trendline.

Target = 104.50 & 103.20

Please note: This trade has more winning probability if it breaks down after reversing from the upper trendline support. Don’t Trade if it gap ups above trendline.

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