Best Trading Ideas |BUY & SELL| 24 Oct

BUY Trade: The Goldman Sachs Group, Inc. (GS) – 299.22

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Trade Details:

1. This stock may reverse from the lower support zone because it retests the same levels more than 3 times.
2. We can see a trendline breakout above the 302 level. So, trail your SL at cost above 302
3. Trendline breakout increases the chance of bouncing back from the current price towards higher levels.
4. Ignore this trade if this stock gives a breakdown below the last lower swing or SL.
5. RSI is looking bullish and it may go to the 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 = Above 300.33

Stop Loss = 298.03

Target = 307.50

Please note: If it opens Gap Down and falls below the last day’s low then must ignore this trade.

Bullish Trade: Textron Inc. (TXT) – 74.97

Trade Details:

1. On the hourly charts, it is taking support at its lower support area around 75 levels.
2. It is moving upwards after a small pullback and showing a good reversal pattern on the charts.
3. It may hit the upper 200 EMA resistance levels as a target but will take more than 3-4 days.
4. Enter into a trade only if it reverses otherwise it will continue its selling pressure.
5. RSI is in the oversold zone it will recover very soon within days to higher levels.
6. Risk Reward = 1:4

Trade SL and Target –

Entry = Above 75.10

Stop Loss = 74.55

Target = 77.26

Please note: If this stock opens Gap up then wait for the price to trigger and cross upward.

Contra Trade: The TJX Companies, Inc. (TJX) – 88.33

1. This stock is trading now at the lower support area of 88.
2. It will become negative below 88 because this level is a support. But if it reverses then we will see a better upside momentum.
3. If you want more confirmation on trade then trade only if the market sentiment is positive.
4. RSI is reversing from its lower levels and it will start trading above 50 soon.
5. Strictly follow the Stoploss and Target and trail your stop loss around cost after getting a 1:1 risk reward on your trade.
6. Risk Reward = 1:2.5+

Trade SL and Target –

Entry = Above 88.50

Stop Loss = 88.12

Target = 89.50

Please note: Trade if only this stock goes above 88.50 and sustain wait to enter if it opens Gap Up. Ignore if it goes below the last 2 candles because then it will become a sell trade.

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