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Growth Investing101: nVent Electric plc (NVT)

Company Overview: nVent Electric plc (NVT) and its subsidiaries are involved in the design, production, marketing, installation, and maintenance of electrical connection and protection solutions. The...

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HomeTrading FocusedBest Trading Stocks Ideas For 16 Feb

Best Trading Stocks Ideas For 16 Feb

Short Trade: Qorvo, Inc. (QRVO)– 113.65

Best Trading

Trade Details:

  1. The Daily charts show there is a resistance level of around 114.
  2. Trading too far from its moving average and it may try to retest its moving average line.
  3. Around 115 there is a multi time high resistance zone so price will try to reverse from this levels.
  4. After breaking 115 levels, I suggest you to exit because there will be a breakout and price may go higher.
  5. Be ready this trade will take time to hit the targets because targets is very big you can hold this trade for target of 90.
  6. RSI is trading in the overbought zone and it is trying to reverse to lower levels.
  7. You can hold this trade for a few days for a better move if it closes in favor.
  8. Risk Reward 1:4+

    Trade, SL, and Target –

Entry = 113.65

Stop Loss = 114.78

Target = 108.56

Please note: If it opens gap up the wait for the confirmation of breakdown.

Sell Trade: Allegion plc (ALLE) – 133.31

Trade Details:

  1. Stock is trading at the upper resistance levels and it may reverse to lower level again.
  2. There is a trendline upper resistance levels from where this stock is trying to reverse for the 3rd time.
  3. Trading too high from its moving average. So we can expect a pullback from current resistance levels towards it moving average support.
  4. Our target levels is at the lower trendline support joining the levels of 97-104-125
  5. Do not trade if this crosses above 136 levels.
  6. RSI is trading in an overbought zone around 70 and it may reverse towards its lower levels.
  7. Risk Reward = 1:4

Trade SL and Target –

Entry = 132.85

Stop Loss = 134.78

Target = 125.10

Please note: This stock is in strong uptrend so be strict with stoploss otherwise it may go against us above the trendline resistance.

Momentum Trade: Edwards Lifesciences Corporation (EW) – 86.04

  1. Stock is giving a breakout of consolidation zone and it will bounce quickly after breakout.
  2. Trading in a pattern of symmetric triangle which increase the chance of big breakout or breakdown.
  3. We will trade on the side where stock will gives a breakout/breakdown. But there is a high probability of upside breakout.
  4. There is a range breakout and so increases the chance of upside momentum.
  5. Its moving average line is acting as a support levels and increase the chance of upside bounce.
  6. Trade only when there is a breakout above the white trendline because it has chance of fall down again.
  7. RSI is trading flat at 51 levels. It seems like it will shoot up towards 75-80 levels with price breakout.
  8. Strictly follow the Stoploss and Target and trail your stop loss because if it go against us there will be a big loss without SL.
  9. Risk Reward = 1:4.5

Trade SL and Target –

Entry = 86.26

Stop Loss = 85.45

Target = 89.86

Please note: This stock may give a breakout or breakdown as well so be alert to trade with momentum. You can hold this trade for few more days if it closes in profits today.

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