Best Trading Stocks Ideas For 24 April

Short Trade: Electronic Arts Inc. (EA) – 127.14

Trade Details:

1. Stock is very negative or bearish trade and will continue to fall towards lower level.
2. The yellow trendline will acts as a resistance level for this stock and it may go dowside again.
3. RSI is also bearish from the very first day and it will go again towards the lower levels.
4. Make sure to enter only of it trading below its trendline otherwise it may bounce higher towards its EMA levels.
5. You can reverse this trade if it gives a breakout just above the trendline.
6. Risk reward ratio is very good and it is favorable above 1:2.5+.

Trade SL and Target –

Entry = Below 127

Stop Loss = 128.14

Target = 124.10

Please note: Wait for confirmation of bearishness in the price otherwise it may bounce higher and you can also reverse your trade with SL.

Bullish Trade: STERIS plc (STE) – 205.99

Trade Details:

1. STE has already given a trendline breakout recently above 202 levels.
2. It may further rise towards its EMA levels around 213 to 215.
3. At the lower levels volumes were also good which indicates the accumulation of stock by trades or investors.
4. There is also a consolidation phase breakout from the lower levels and price will bounce towards the upper resistance level.
5. RSI is also in the bullish trend and price will lead to rise further.
6. Risk reward ratio is also good at 1:3.4.

Trade SL and Target –

Entry = 208.03

Stop Loss = 205.98

Target = 215

Please note: Stock has breakout recently so this might be a trap and may reverse down again so be strict with SL.

Sell Trade: Starbucks Corporation (SBUX) – 87.85

Trade Details:

1. Stock is facing resistance at the upper trendline levels which may lean to decline in stock price.
2. But once it crosses above the upper EMA resistance level the price will bounce very quick towards higher level.
3. Volumes of this stock is increasing day by day which lead to increase in price further.
4. After trendline breakout confirmation you can plan for 92 level targets.
5. Risk reward ratio is very good and on the downside and upside as well.
6. Trade with momentum with strict stoploss.

Trade SL and Target –

Entry = 87.80

Stop Loss = 88.55

Target = 85

Please note: Above the trendline breakout of 89 you can reverse the trade for upside with SL at 88 level.

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