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HomeTrading FocusedTop Bearish Stocks of Today | 23 Feb

Top Bearish Stocks of Today | 23 Feb

Short Trade: Ulta Beauty, Inc. (ULTA) – 544.25

Best Trading

Trade Details:

  1. There is a technical pattern formation like double top which indicates the high bearish sign.
  2. Stock may fall sharply from this levels after the confirmation of lower trendline support breakdown.
  3. The lower trendline will act as a support zone and it will reverse after hitting the 540 levels. So You can trail you SL after 540.
  4. This stock is reversing towards a lower support of its moving average line.
  5. You can hold this trade for bigger target if markets start crashing from All time High.
  6. RSI is trading in bullish zone we may see a reversal from current levels. It seems making a bearish sign at this levels.
  7. Risk Reward 1:3+

    Trade, SL, and Target –

Entry = 543.20

Stop Loss = 548.40

Target = 526.47

Please note: For high confirmation you can enter only below the lower trendline breakdown.

Sell Trade: Freeport-McMoRan Inc. (FCX) – 38.66

Trade Details:

  1. Stock is trading at the upper resistance levels and now it can again fall towards
  2. If it crosses the last lower swing then it may fall very sharply. So Hold this trade for bigger targets with trailing stoploss.
  3. You can hold this trade for more than a week if the overall market sentiment is negative and it crosses below 37.50
  4. RSI is also very bearish and it is heading towards lower levels.
  5. Overall market extremely overbought and may covert into negative so we can look for selling pressure in this stock.
  6. Risk Reward = 1:3

Trade SL and Target –

Entry = 38.50

Stop Loss = 38.85

Target = 37.41

Please note: If market sentiment supports bearish sign then hold this trade for better targets around 36.50

Bearish Trade: Las Vegas Sands Corp. (LVS) – 53.65

  1. Already shows a huge upside momentum so it may fall toward the last breakout levels.
  2. This stock is trying to form a lower low formation which is a bearish sign.
  3. Market sentiment is trying to become negative so it may continue with the falling trend. You can trail with stoploss.
  4. On the hourly charts it seems like a breakdown from the current levels and fall sharply.
  5. If market becomes positive then ignore this trade because it may jump to higher levels.
  6. RSI is reversing from the top and in s bearish trend.
  7. Strictly follow the Stoploss and Target and trail your stop loss at cost if the price touches last upper swing.
  8. Risk Reward = 1:3+

Trade SL and Target –

Entry = 53.48

Stop Loss = 54

Target = 52

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

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