Short Trade: PulteGroup Inc (PHM) – 108.79
Trade Details:
Stock is trading at the lower support level and price is preparing for the breakdown and the stock price may hit the lower levels. Next support levels is 105 and with the negative market sentiment stock may fall further. On a little bounce you can plan to sell more because there is a trendline resistance level on the upper side. RSI is also in a negative trend and continuing its bearish trend. Risk reward ratio is 1:3+
Trade, SL, and Target –
Entry = 108.26
Stop Loss = 109.28
Target = 105
Please note: If it opens gap up the wait for the confirmation of breakdown to enter into this trade. Keep trailing your SL.
Bullish Trade: CSX Corporation (CSX) – 35.25
Trade Details:
Stock had in its correction phase and now trading at the lower support levels and preparing for the bounce. Volumes are also good at this level and stock is at support which indicates the upcoming buyer signal. It is also trading too far from its EMA levels and price may bounce again towards its upper resistance of its EMA level. RSI is also turning into bullish and it may bounce towards it upper EMA resistance. Risk reward ratio is 1:2+
Trade SL and Target –
Entry = 35.26
Stop Loss = 34.92
Target = 36
Please note: If it opens gap down then wait for entry. Trade this stock only for the upside momentum.
Sell Trade: Nike Inc (NKE) – 93.11
Trade Details:
Stock has opened gap up from last 3 days and fall down after opening so must trade only for the downside. RSI is also resisting on the top of the zone. It has also reached on the top of its EMA levels and preparing for rejection from that zone and will try to turn negative again. Risk reward ratio is more than 1:3.5 and keep trailing your SL to secure your profits.
Trade SL and Target –
Entry = 92.63
Stop Loss = 93.37
Target = 90
Please note: Stock is preparing for reversal so with strict SL & keep trailing.
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