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[Platinum Watchlist] (4.12.23) Stock on our radar today!
[Platinum Watchlist] (4.12.23) Stock on our radar today!
August 21, 2023
After 14 days the KO position was sold out of the paper trade portfolio for a 2.20% gain. The portfolio still holds BRKB, DOW, AWK and SO.
From the Horizons watchlist there are a few stocks that meet all the guidelines except they are trading below the 200-day SMA. They include ALL, NEE and CNC. We explained yesterday the risk involved in trading a stock with a price below the 200-day SMA.
Agilent Technologies, symbol A is also on the Horizon’s list and closed above its 200-day SMA yesterday by $0.01 which will be support if it can hold. Sell orders may be found at the resistance level around 141.51. The RSI is just 51.38, so look for more strength when making a decision to enter this position.
We have CPI and the FOMC minutes in the news today and the PPI released tomorrow. This type of news can provide extra price action volatility. Utilize your trading plan with appropriate risk management for each trade you make.
When it comes to trading at market open, it is important to have a clear strategy and a plan in place to manage risk. The stock market price action can be volatile at market open for a number of reasons.
One of the main reasons is the release of news or economic data overnight or before the market opens that may affect investor sentiment and cause price movements.
Additionally, large institutional investors and hedge funds may adjust their positions at the open, which can cause large swings in the market.
Have a great day! This information is provided for educational purposes and is not a recommendation to buy or sell a stock.
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