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[Platinum Watchlist] 3 Stocks update (1.25.23)
[Platinum Watchlist] 3 Stocks update (1.25.23)
August 21, 2023
Good morning!
Stock futures for major US markets are down this morning as we are expecting more earnings reports today. Let’s review our paper trade portfolio.
Yesterday there was a “market glitch” at the open that caused many stocks to be halted for a time. This created some interesting daily candlesticks in our charts.
OXY had a downgrade yesterday and with the market glitch, we saw some crazy price action movement and a close below the 200-day SMA. This triggered a paper trade stop and a 2.7% loss. Energy stocks are volatile, and charts can’t really help us detect analyst downgrades.
CENX had a nice increase of 3.86% to close at 11.04%. Price action has been moving sideways for a while and yesterdays close was above our cost basis. We do have some room to the upper resistance line of 11.96, however I’d put in some tight stops and be satisfied with a slight gain considering the markets we are currently experiencing.
ZTS also experienced the “market glitch” as can easily be seen in the chart. After it settled, the closing price was down.52% but still above our cost basis of 161.85. We have a negative crossover of the Stochastic which in uncertain markets usually gives me an indication of the probability of potential price action decline. Stop limits will defend our gains.
Today looks to be one of managing risk and defending our gains. This information is for educational purposes and not a recommendation to buy or sell a security.
Message #【💎✍】-trading-watchlist
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