Buy Trade: EOG Resources, Inc. (EOG) – 120.60
Best Trading
Trade Details:
- The hourly charts shows a perfect breakout setup and a nice pullback after breakout.
- It is retesting its breakout levels after a breakout which increases the chances of upside momentum.
- Around 120 there is s support, so it may slip towards its last lower swing but you can make a fresh entry again when it triggers our entry price.
- Trade only after it crosses the last upper swings.
- Volumes are also good at breakout levels and it will ensure the strong bullish sign in this stock.
- RSI is trading in the bullish area and still has the room for upside towards 70-80 levels.
- You can hold this trade for a few days for a better move if it closes in our direction.
- Risk Reward 1:2.5+
Trade, SL, and Target –
Entry = 121.45
Stop Loss = 120
Target = 125
Please note: Enter into this trade only after the price crosses above the last upper swing for the perfect technical setup.
Bullish Trade: Devon Energy Corporation (DVN) – 44.99
Trade Details:
- Stock is trading at the breakout levels and on the hourly charts it has already given a breakout.
- Very good technical setup is found at the breakout levels for upside direction.
- Volumes are also high at the breakout levels.
- trendline breakout on the hourly and daily charts.
- You can hold this trade for the bigger targets.
- Enter into this trade only if it crosses above the last upper swing.
- RSI is taking a pullback and it will try to bounce again towards higher levels.
- Risk Reward = 1:3
Trade SL and Target –
Entry = Above 45.50
Stop Loss = 44.85
Target = 47.50
Please note: Trade only after confirmation because it may fall aggressively if you enter before confirmation.
Long Trade: Etsy, Inc. (ETSY) – 83.26
- Formation of double bottom pattern on the hourly charts. It may bounce again towards last upper swing levels.
- It is trading in a formation of higher high pattern and now it is at levels where buyer will be activated.
- Its EMA and last swing support are at the current price. So it may accumulate buyers here.
- RSI is also bullish and seems like giving a breakout at the current levels.
- Strictly follow the Stoploss and Target and trail your stop loss at cost if the price goes above 83.50
- Risk Reward = 1:3
Trade SL and Target –
Entry = 83.79
Stop Loss = 82.90
Target = 86.50
Please note: You can re-enter into this trade again if it doesn’t work at first time but only after our entry price triggers.
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