Stock Picks to Trade Now | BUY&SELL |17 Nov

Bullish Trade: Ulta Beauty, Inc. (ULTA) – 405.55

Stock Bullish

Trade Details:

1. This stock is bouncing from its very strong support levels and heading to higher levels.
2. Stock price seems like reversing from current levels and changing its price formation to higher high trading pattern.
3. 400 level is very important level as it was the last breakout price of Big Bar.
4. The upper resistance level will be last upper swing around 415-417 levels.
5. RSI is trading flat and looks like bullish & reversing to touch higher levels.
6. There are few bullish candles which shows the buying confidence at this support levels.
7. Risk Reward 1:3+
   
   Trade, SL, and Target –

Entry = 406.13

Stop Loss = 43.23

Target = 416.25

Please note: Trade only if it starts trading above the support line and gives a proper reversal breakout.

Sell Trade: Masco Corporation (MAS) – 59.37

Trade Details:

1. This stock is trading at its upper resistance levels and it may reverse to lower levels.
2. Stock is heading towards lower support of 56 levels which is also a strong a support levels.
3. If it goes above 60 then it will create a higher high pattern which is against our favor and gives a brakout.
4. Trade only if it triggers our entry price in downward direction.
5. RSI is in overbought zone and it must be fall from this to lower levels.
6. Risk Reward = 1:5+
7. You can hold this trade if the overall market sentiment is negative.

Trade SL and Target –

Entry = 59.15

Stop Loss = 59.60

Target = 56.64

Please note: Ignore this trade if it opens gap up and it must have to follow the negative price action to fall.

Long Trade: Costco Wholesale Corporation (COST) – 578.58

1. It is bouncing from the previous support zone of 575. It may bounce again to higher levels.
2. There is also a trendline support at current levels and we planning for reversal.
3. This level is also a support zone from where we can see a strong bullish reversal.
4. Don’t trade if this goes below 575 levels.
5. RSI is taking support at the 40 levels and it may start a new uptrend from here and in a bullish trend.
6. Strictly follow the Stoploss and Target.
7. Risk Reward = 1:3

Trade SL and Target –

Entry = 580.08

Stop Loss = 576.14

Target = 592

Please note: If it starts trading below the horizontal line support zone (575) then don’t trade or follow SL strictly.

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