Top Bearish Stocks of Today | 08 Jan

Short Trade: The Home Depot, Inc. (HD) – 342.96

Top Bearish

Trade Details:

1. Selling pressure with a negative market sentiment from the upper trendline resistance levels which is also a very good reversal levels for this stock.
2. Constant decrease in volumes indicate the bearish sign in the stock.
3. This stock is reversing towards a lower support of 330 . So, make entry on a red bearish candle.
4. This is the 5th time it is trying to reverse from the upper resistance area.
5. RSI is trading flat we may see a reversal from current levels to lower levels.
6. Risk Reward 1:3.5
   
   Trade, SL, and Target –

Entry = 343

Stop Loss = 345.50

Target = 330.50

Please note: If it starts trading above the trendline breakout levels then you must have to exit because then it will shoot up quickly.

Sell Trade: Altria Group, Inc. (MO) – 41.49

Trade Details: Altria Group, Inc. (MO)

1. There is a breakdown of a symmetrical triangle pattern and it is retesting it breakdown levels.
2. Now it s ready to fall and we can expect a bigger targets in this trade.
3. If it crosses the current consolidation zone then it may fall very sharply.
4. You can hold this trade for few days if the overall market sentiment is negative and it crosses below 40.
5. RSI is also very bearish and it is heading towards lower levels.
6. Overall market sentiment is negative so we can look for selling pressure in this stock.
7. Risk Reward = 1:3.5

Trade SL and Target –

Entry = 41.30

Stop Loss = 41.60

Target = 40.25

Please note: Enter into this trade only if it triggers our entry levels otherwise may it may go against us. For high confirmation trade only below EMA levels.

Bearish Trade: Rollins, Inc. (ROL) – 42.70

1. Already shows a huge upside momentum so it may fall toward the last breakout levels.
2. Market sentiment is trying to become negative so it may continue with the falling trend.
3. On the hourly charts it seems like a consolidation phase before big fall from the higher levels.
4. Its EMA levels will act as a resistance for now and it again fall within few days.
5. RSI is in the bearish trade and it must fall again towards 30.
6. Strictly follow the Stoploss and Target and trail your stop loss at cost if the price touches last upper swing.
7. Risk Reward = 1:4

Trade SL and Target –

Entry = Below 42.50

Stop Loss = 43.01

Target = 40.50

Please note: If it opens Gap up then wait to enter and trade only with the bearish market sentiment.

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