Become a logicalchat Member

Latest Post

Your story starts here. Sign up and let's connect in ways that truly matter!

HomeMarket AnalysisLong and Short Ideas - 3 Stocks to Trade now!

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

 

My best read on trading is this Book

Related Post