Short Trade: Electronic Arts Inc. (EA) – 120.72
Top Stocks Bearish
Trade Details:
- Resisting the upper trendline. It seems to be in bearish mode.
- Its EMA is also acting as a resistance for this stock which is around 120.90 levels.
- It may retest the lower levels on the trendline.
- If it hits our SL then you must exit because it may go opposite very sharply.
- Overall market sentiment is negative then you can hold this trade for the next day.
- Risk Reward 1:3.5
Trade, SL, and Target –
Entry = 120.41
Stop Loss = 121.10
Target = 118
Please note: It will take support at a lower trendline so must ensure if the market is negative then hold otherwise you can exit there.
Long Trade: Old Dominion Freight Line, Inc. (ODFL)– 403.16
Trade Details:
- This stock is trading in a range and currently moving towards the upper range.
- There is a trendline from the lower side, below our SL the trendline will also break so must exit below SL.
- Strong price support and psychological Support around 400 levels.
- RSI is trying to break out from 50 levels, current RSI is bullish.
- Trail your stop loss to the entry price after getting a 1:1 risk reward.
- Risk Reward = 1:2.5
Trade SL and Target –
Entry = 403
Stop Loss = 399.85
Target = 412
Please note: The market may open Gap down and then it may bounce very fast. Enter only when price triggered with strict Stoploss.
Buy Trade: Trimble Inc. (TRMB) – 52.30
- This stock is falling from the upper resistance and taking support around its 200 EMA.
- There is an upper trendline which is also our target price.
- 52 levels is also acted as a support line in the past.
- RSI is trading around 50 levels and above 55 it may bounce again to the higher levels.
- Strictly follow the SL & Target and trail your stop loss around cost after getting a 1:1 risk reward.
- Risk Reward = 1:3+
Trade SL and Target –
Entry = Above 52.50
Stop Loss = 52.13
Target = 53.84
Please note: If this stock goes below 52 then it may fall towards 50 levels, so trade according to the price action.
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