Sell Trade: CVS Health Corporation (CVS) – 77.57
Trade Details:
- Stock is trading at the upper resistance levels & will try to fall again towards it EMA support line.
- This is the 3rd time this stock is facing resistance at the same levels.
- There is a lower gap pending and it will try to fill it out with a bearish trend in short term.
- RSI is also trying to reverse from the top of the channel. Currently at 66 levels.
- Risk-Reward ratio = 1:3
Trade, SL, and Target –
Entry = Below 77.50
Stop Loss = 78.16
Target = 75.50
Please note: Trade this only with the negative market sentiment. If the overall market is bullish then wait for bearish sign to enter.
Bullish Trade: Cognizant Technology Solutions Corporation (CTSH) – 75.09
Trade Details:
- Stock is taking support at the lower levels and it will give a good bounce towards higher levels.
- It is too far from it EMA support levels. It will try to retest it again.
- Price is consolidating in a range and preparing for the next big bounce.
- Volumes is also increasing which indicates the bullishness in this stock.
- RSI is trading at the lower levels near oversold zone.
Trade SL and Target –
Entry = 75.15
Stop Loss = 74.45
Target = 77.25
Please note: Make sure to keep strict SL because if it starts falling then it will continue to fall towards 73.
Short Trade: Centene Corporation (CNC) – 77.08
- Stock is in negative trend and facing resistance at its EMA levels and will try to fall down again.
- If the market sentiments supports this then price will fall drastically.
- RSI is also turning into negative so we can take a small bet on this trade.
- Risk-Reward = 3
Trade SL and Target –
Entry = 76.90
Stop Loss = 77.55
Target = 75
Please note: If the market sentiment is positive and stock crosses above its EMA levels then wait for bearish confirmation to enter into this trade.
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