Best Trading Stocks Ideas For 18 Dec

Short Trade: Qorvo, Inc. (QRVO)– 112.26

Best Trading

Trade Details:

1. The Daily charts show there is a resistance level of around 113.
2. Trading too far from its moving average and it may try to retest its EMA levels.
3. Around 102 there is s support, so it may slip towards its last lower swing of half of the recent upside.
4. After breaking 100 levels it may fall deeper so you can hold this trade while trailing your stoploss.
5. Be ready this trade will take time to hit the targets because targets is very big.
6. RSI is trading in the overbought zone and it may try 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 1:5+
   
   Trade, SL, and Target –

Entry = Below 111.60

Stop Loss = 112.71

Target = 105.20

Please note: If it breakout the upper resistance and crosses above the rectangular zone then it will move quickly to the higher levels.

Sell Trade: Monolithic Power Systems, Inc. (MPWR) – 633.31

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 reversed thrice.
3. Trading too high from its Exponential moving average. So we can expect a pullback from current resistance levels.
4. You can hold this trade if the market sentiment will be negative and price crosses below 600.
5. Do not trade if this crosses above 636 levels.
6. RSI is trading in an overbought zone above 70 and it may reverse towards its lower levels.
7. Risk Reward = 1:4+

Trade SL and Target –

Entry = 629.50

Stop Loss = 635.67

Target = 602

Please note: It is trading at the resistance zone and we are expecting a reversal from the current levels and if continue its uptrend then we exit. This is low probability trade with high reward.

Long Trade: Chevron Corporation (CVX) – 149.35

1. Stock is giving a breakout of consolidation zone and it will bounce quickly.
2. It has already given a pullback and then now after crossing the last upper high it will reach to 154 levels.
3. There is a range breakout and so increases the chance of upside momentum.
4. Its EMA and last swing resistance are at the same level as our target levels.
5. Trade only when there is a breakout above 150 because it may reverse again below that price level.
6. RSI is already in bullish zone which creates a little bit of confusion about the price upside momentum.
7. Strictly follow the Stoploss and Target and trail your stop loss at cost if the price goes above 152.
8. Risk Reward = 1:2.5

Trade SL and Target –

Entry = Above 150.10

Stop Loss = 148.25

Target = 154.75

Please note: Enter into this trade only after it crosses the last swing high so that it will be more confirm.

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