Best Trading Stocks Ideas For 18 March

Short Trade: Microchip Technology Incorporated (MCHP)– 88.64

Best Trading

Trade Details:

1. The Daily charts show there is a resistance level of around 90 and try to fall down again..
2. it was trading too far from its moving average and it may try to retest its moving average line.
3. Stock is also facing trendline resistance and will drag down little further.
4. After breaking 90 levels, I suggest you to exit because there will be a breakout and price may go higher.
5. As soon as it cross down the EMA levels you can trail your stoploss at cost or above.
6. RSI is trading with the negative signal.
7. Risk Reward 1:3
   
   Trade, SL, and Target –

Entry = Below 89

Stop Loss = 89.70

Target = 86

Please note: If it opens gap up the wait for the confirmation of breakdown to enter into this trade.

Sell Trade: Bunge Global SA (BG) – 95.56

Trade Details:

1. Stock is trading at the upper resistance levels and it may reverse to lower level again.
2. This stock is trading in a channel and will go down again towards its lower levels or minimum to its EMA support.
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 level is at the lower yellow trendline support near 92.
5. Do not trade if this crosses above 96 levels. After that it may become bullish towards 100.
6. RSI is trying to reverse from the higher levels.
7. Risk Reward = 1:3

Trade SL and Target –

Entry = 95.40

Stop Loss = 96.05

Target = 93.50

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

Bullish Trade: Seagate Technology Holdings plc (STX) – 86.01

1. Stock is reversing from the bottom support with very bullish sign.
2. Already fallen from high and will try to show reversal from the bottom levels.
3. If market opens negative and stock turns into bearish then we can also try to trade this stock when it will bounce again from the same support levels.
4. There is a range breakout and so increases the chance of upside momentum.
5. Its moving average line is so far above from the current levels and stock price will try to hit the upper EMA levels.
6. RSI is trading in oversold zone & it will try to bounce towards 50/70 levesl again.
7. 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.
8. Risk Reward = 1:3+

Trade SL and Target –

Entry = 86.25

Stop Loss = 85.30

Target = 89.50

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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