Bullish Trade: Align Technology, Inc. (ALGN) – 304.82
Trade Details:
- Stock is trading at the lower trendline support which shows the further strength in this stock and price may bounce again.
- Once it crosses above its EMA then it will shoot up towards the upper resistance levels which is the upper yellow trendline.
- RSI is also bullish and must hit towards 70-80 levels.
- Risk reward ratio is also good at more than 1:3
- Currently it is consolidating and in a pullback phase and will bounce back soon.
![](https://desieconomist.com/wp-content/uploads/2024/04/algn30-1024x472.png)
Entry = 304.93
Stop Loss = 301.95
Target = 315
Please note: If it opens negative then wait for bullish conformation to enter into this trade above 305.
Bearish Trade: IDEXX Laboratories, Inc. (IDXX) – 505.34
Trade Details:
- Trading at the upper trendline resistance levels and will try to pulldown from current levels.
- Current levels will acts as a resistance and price will fall down from the current levels.
- RSI is also formaing a bearish pattern will slide down towards lower levels.
- Its earning is also there in next few days so consider it as a high risk and high reward trade.
- Its EMA level is acting as a resistance for now and price is trying to reverse from its EMA levels.
- Its a high reward trade on the downside so be keep trailing your SL to secure bigger profits.
![](https://desieconomist.com/wp-content/uploads/2024/04/idxx30-1024x473.png)
Entry = 504.50
Stop Loss = 510.18
Target = 482.22
Please note: If you want to trade with high confirmation then enter into this trade only below 500 levels.
Long Trade: The Progressive Corporation (PGR) – 206.67
Trade Details:
- Stock is currently taking support at its EMA levels which shows the strength for upside.
- Its has already breakdown the EMA levels which may leads to further fall but there is low chances of further fall.
- RSI si reversing from the bottom levels and will bounce towards higher levels.
- This may give you a higher profit if you keep trailing your stoploss.
- Volumes are also increasing which shows the accumulation phase in this stock.
![](https://desieconomist.com/wp-content/uploads/2024/04/pgr30-1024x474.png)
Entry = 207
Stop Loss = 205.18
Target = 212.45
Please note: If it cross down the lower swing then you can also reverse the position or simply take SL.
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