BUY Trade: Equifax Inc. (EFX) – 243.88
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Trade Details:
- There is a solid support at the current EMA levels area around 242-243.
- It may try to reverse from this support zone toward its higher levels around 250 levels which was its last upper swing resistance.
- You can keep your stoploss trailing because it may go higher than our target levels if it closes in our favor today.
- RSI is trading flat it may shoot up to higher levels towards 75-80 levels.
- Trail your stop loss at entry price after getting a 1:1 risk reward or above 247 level.
- Risk Reward 1:3+
Trade, SL, and Target –
Entry = 244.60
Stop Loss = 242.98
Target = 250
Please note: Our stoploss will be its EMA because if price don’t hold EMA then it may fall sharply.
Long Trade: Lennar Corporation (LEN) – 147.42
Long
Trade Details:
- This stock is consolidating at its lower levels and it may bounce with the positive market momentum.
- There is a small range in which stock is trading from last few days, it may again try to go towards its upper resistance levels of 155
- There will be a trendline breakout as we connect the last three upper swings with a trendline.
- RSI had been trading flat from the last few days around 45. I think it will shoot up soon.
- On the upper side its resistance range is there around 155 levels so try to exit at that levels.
- Trail your stop loss to the entry price after getting a 1:1 risk reward.
- Risk Reward = 1:3+
- If you want to trade with high confirmation then enter into the trade above its moving average line or above last upper swing (hammer candle).
Trade SL and Target –
Entry = Above 148
Stop Loss = 146.38
Target = 154
Please note: This is a high probability trade so you can make entry again if it hits sl in first entry.
Bullish Trade: Marathon Petroleum Corporation (MPC) – 150.40
- This stock is trading in very strong uptrend and now taking a pullback so it will bounce soon.
- Stock is heading towards lower support level of 150 which is very strong support and price may heads uptrend again.
- On the daily charts price has a good support at the current levels. 150 will also act as a psychological resistance levels.
- A support zone is also available at the 150 levels which acted as a resistance zone earlier.
- RSI is trading around 41 levels it may shoot up again to higher levels.
- Risk to Reward Ratio = 1:3
Trade SL and Target –
Entry = 151.76
Stop Loss = 150.40
Target = 155.80
Please note: You can hold this trade for a few more days for bigger targets as we see recovery in the crude oil prices.
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