Today Trading Ideas Best
Bearish Trade: Accenture plc (ACN) – 308.26
Trade Details:
- It will reverse from the upper levels with selling pressure.
- There is a trendline resistance that may be not crossed by this stock.
- Trading in a range so it may fall very quickly after range breakdown.
- RSI is trading flat as the price, It may fall to lower levels.
- Trail your stop loss at entry price after getting a 1:1 risk reward.
- Risk Reward 1:2.85
Trade, SL, and Target –
Entry = Below 307.85
Stop Loss = 309.52
Target = 303.10
Please note: If it breaks the above trendline resistance then it may shoot up so keep your SL very tight.
Short Trade: Tesla, Inc. (TSLA) – 251.60
Trade Details:
Trading at the upper resistance level, It may reverse back to the lower levels.
The current resistance level is also its EMA which will act as a resistance.
Ignore this stock if it goes above 253
250 is also a psychological level so below 250 it may fall down.
RSI is trading at its support zone, it may reverse from here.
Risk Reward Ratio = 1:2.7
Trade SL and Target –
Entry = 249.50
Stop Loss = 252
Target = 242.50
Please note: Wait for the first 5 minutes to observe the price action of the stock then enter only when the price crosses downwards.
Bullish Trade: Equinix, Inc. (EQIX) – 712.68
- Stock is too far from its 200 EMA.
- Formation of double bottom on the hourly charts.
- It is the perfect price action in the upside direction if it crosses above the last swing high of 713
- Taking support at the lower trendline.
- This lower swing of 707 acts as a support.
- RSI is looking bullish and in the upward direction, currently trading at 41
- Risk Reward = 1:2.5+
Trade SL and Target –
Entry = 713.30
Stop Loss = 707.30
Target = 728.50
Please note: Don’t Trade in Negative market sentiment because it may break the last support & then fall sharply.
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