Stock Picks to Trade Now| BUY&SELL | 29 Dec

Bullish Trade: DaVita Inc. (DVA) – 104.08

Stock Bullish

Trade Details:

1. This stock is trading in a range bound and formation of consolidation zone after a breakout it will shoot up very fast to higher levels.
2. Trading at a very strong support line of EMA and range becoming narrow which shows the breakout confidence.
3. As on the some other indicators like Bollinger Bands price shows like it will give a big breakout from the current levels.
4. RSI is trading flat and it will give a bounce to higher levels towards 70.
5. Trail your stop loss at entry price after getting a 1:1 risk reward or after the stock price crosses 106 levels.
6. Risk Reward 1:3
   
   Trade, SL, and Target –

Entry = 104.52

Stop Loss = 103.94

Target = 107.50

Please note: There is a chance of gap down opening so only enter into this trade after crossing above 104.50

Sell Trade: Eaton Corporation plc (ETN) – 240.75

Trade Details:

1. The stock will go into negative price action and it may fall sharply if it goes below 240 levels.
2. Chart seems like price is trying to reverse from the current levels as the upper trendline resistance.
3. If you want to wait for a breakdown confirmation then enter below its EMA levels.
4. It may fall down towards it yellow zone support levels on the below charts.
5. Ignore this trade for the sell side if it opens GAP UP.
6. RSI is ready for downward momentum below 55. It is acting as a very good support level.
7. Risk Reward = 1:2.5

Trade SL and Target –

Entry = Below 239.97

Stop Loss = 241.86

Target = 235.22

Please note: If it starts trading above it trendline then must exit and enter only in a downward direction below 240.

Long Trade: Diamondback Energy, Inc. (FANG) – 155.33

1. The price action formation looks like a double bottom patter at lower levels after a trendline breakout it may bounce to higher levels soon.
2. Price is trading at very strong support zone of 92 it will reverse to higher levels again.
3. RSI is trading in oversold zone so it will bounce to higher levels and go towards 45 to 60 levels.
4. Stock is trading below its EMA, if it crosses its EMA upwards then it will become very bullish for higher levels.
5. Strictly follow the Stoploss and Target and trail your stop loss at cost if the price goes above 157
6. Risk Reward = 1:2.5

Trade SL and Target –

Entry = 156.35

Stop Loss = 154.96

Target = 160

Please note: We are expecting a reversal from this support levels if it goes down below its yellow zone then must exit this trade.

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