Today Top Trading Ideas |BUY & SELL| 23 Oct

Sell Trade: Fair Isaac Corporation (FICO) – 912

Trading

Trade Details:

1. This stock pattern is formation of lower-low and the market sentiment is also negative.
2. The current price is at resistance and may again fall down.
3. If you want to trade with more conformity then enter below 905.
4. RSI is very negative in a downtrend turn into more bearish.
5. Trail your stop loss at entry price after getting a 1:1 risk reward.
6. Risk Reward 1:3.
7. Its 200 EMA support will act as a strong support zone. So be ready to exit around lower support levels.
   
   Trade, SL, and Target –

Entry = 909.90

Stop Loss = 916

Target = 890

Please note: Don’t trade this stock if it opens Gap Up. Trade when it triggers our entry price.

Short Trade: Mettler-Toledo International Inc. (MTD) – 1020.23

Trade Details:

1. This stock is taking resistance from the upper trendline and it may fall again to lower levels.
2. There is a 1000 levels that will act as a support zone, It may fall towards its psychological support.
3. RSI is in a negative trend and it is falling from exactly its last resistance levels.
4. The price action of this stock is extremely bearish and it will be going towards its bottom support of 990.
5. Trail your stop loss to the entry price after getting a 1:1 risk reward below 1007.
6. Risk Reward = 1:2.4

Trade SL and Target –

Entry = 1016.53

Stop Loss = 1026.53

Target = 992

Please note: Follow the strict Stoploss and must exit if it starts trading above 1026.50

Reversal Trade: Adobe Inc. (ADBE) – 540.96

1. This stock is now trading at the great support zone on daily charts.
2. On hourly charts, there is support of its moving average and it may bounce from this level.
3. This stock may reverse only above 540. So enter when the price is triggered.
4. RSI is flat and trying to bounce from its lower levels.
5. Strictly follow the Stoploss and Target, when it goes above 545 then trail your SL.
6. You can hold this trade for a few more days but only if the market sentiment is positive.
7. Risk Reward = 1:4

Trade SL and Target –

Entry = 540.10

Stop Loss = 535.95

Target = 556.65

Please note: If this stock hit SL then you can reverse the position and ride on selling side because of breakdown of support. 

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