SHILPAMED: 70% Pullback Creates a Buying Opportunity

Oct 12, 2023

1. Stock: SHILPAMED
   
   
2. Entry Price: 345.00
   
   
3. Stop Loss: 315.00
   
   
4. Target: 430.00
   
   
5. Trade Duration: 45 to 90 days
   

Rationale:

• SHILPAMED is an uptrending stock that has corrected almost 70% from its high level.
  
• It is currently trading on support and today's daily candle is showing a bounce back.
  
• Volume activity is good, which suggests that there is institutional interest in the stock.
  
• The risk-to-reward ratio of this trade is favorable.
  

Trade Plan:

• Enter the trade at 345.00.
  
• Place a stop loss at 315.00.
  
• Take profit at 430.00.
  
• Keep the stop loss intact and trail it time to time.
  

Example:

If SHILPAMED closes above 345.00 today, you could enter the trade tomorrow at 345.50. Place a stop loss at 315.50 and take profit at 430.00. As SHILPAMED moves higher, trail your stop loss up to protect your profits.

Risk Management:

This trade has a potential risk of 8.7% (345.50 - 315.50) and a potential reward of 24.5% (430.00 - 345.50). This gives a favorable risk-to-reward ratio of 2.8:1.

Disclaimer:

This is not financial advice. Please do your own research before entering any trade.