Top Stocks to Trade |BUY & SELL| 08 March

Short Trade: Schlumberger Limited (SLB)– 50.78

Top Stocks Bearish

Trade Details:

1. Resisting the upper trendline. It seems to be in bearish mode and fall sharply from current levels.
2. It is now stretched too much and it may fall down to retest its moving average lines.
3. Price reached the supply zone and will try to correct itself.
4. If your Risk appetite allows you then you can increase your SL to 51 and hold this trade for bigger targets towards 48.50 levels.
5. You can also wait for confirmation of the reversal as the formation of bearish inverted hammer candle at top.
6. RSI is trading inear overbought zone and it will reverse towards lower levels.
7. Risk Reward 1:3
   
   Trade, SL, and Target –

Entry = Below 50.50

Stop Loss = 50.97

Target = 49.13

Please note: This stock may open gap up and become high volatile so must enter only after it crosses down below 50.50

Long Trade: Cboe Global Markets, Inc. (CBOE) – 184.07

Trade Details:

1. Stock is trading at the strong support of the lower trendline, it will bounce very quickly.
2. There may be a trap for seller and price will reverse because overall market sentiment is highly positive.
3. Stock is taking support at the lower trendline and it may try to reverse soon towards higher levels.
4. It may fall also but as with the positive market sentiment we can plan for the bullish trend. So be strict with stoploss.
5. As soon as it crosses its moving average then you can trail your stoploss above the cost price.
6. You can hold this trade for the bigger target after it closes in our favor or above 188.
7. RSI is trading flat near 34 and it will move towards higher levels.
8. Risk Reward = 1:3.5+

Trade SL and Target –

Entry = Above 185

Stop Loss = 183.66

Target = 190

Please note: It may make a trap for sellers. So, plan to go long only with the bullish market trend. High conviction on Upside momentum. Be strict with stoploss.

Buy Trade: Ross Acquisition Corp (ROST) – 145.97

1. Last day was volatile day and stock closes near its support zone.
2. Stock is trading at its EMA support levels and we can expect a good bounce from its lower support.
3. If the market sentiment will be positive then we can hold this trade for the next 2-3 days.
4. RSI indicating the next upcoming big upmove with its divergence signal.
5. RSI is trading flat and consolidating. It will give a good breakout above 50 and try to hit 80 levels again.
6. Strictly follow the SL & Target and trail your stop loss around cost after getting a 1:1 risk-reward.
7. Risk Reward = 1:3

Trade SL and Target –

Entry = 145.97

Stop Loss = 144.98

Target = 149.45

Please note: Wait for positive sign and enter only if it opens flat. Ignore this trade in case of gap down. 

To get regular updates on stocks, please join our Discord community.

Our Articles on Long-Term Stock Analysis

My best read on trading is this Book