Long and Short Ideas – 3 Stocks to Trade now!

Contra Trade Short in Microsoft Corp

Trade Theses –

1. Reversing from resistance
2. All news are prices in
3. Clear bearish divergence in RSI
4. Momentum is fading

Trade SL and Target –

Entry = 276  to 277

SL 283.50

Target 1 = 260, Target 2 = 251.50

Please note:  Its positional trade and contra trades are high risk high reward trades

Swing Trade Long in Ulta Beauty (ULTA)

Trade Theses –

1. Up trending stock in this market
2. Taking support at 50 EMA
3. RSI did not drop below 40
4. Momentum is changing to upside

Trade SL and Target –

Entry = 520 to 522

SL 507

Target 1 = 550

Please note:  Stop loss is important, trend can in if market breaks down and test previous lows.

Contra Trade Long in Rio Tinto

Trade Theses –

1. Small SL big Risk Reward
2. Commodity price rise  are tailwind for this stock
3. Clear positive divergence in RSI
4. W pattern in line chart

Trade SL and Target –

Entry = 65 to 65.50

SL 64

Target 1 = 68 Target 2 = 72

Please note:  Its positional trade and contra trades are high risk high reward trades

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