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[Platinum Watchlist] (6.23.23) 3 Stocks on our Radar.
[Platinum Watchlist] (6.23.23) 3 Stocks on our Radar.
August 22, 2023
Good morning.
Stock futures are down this morning as traders assess the two days of testimony from Fed chair Powell.
We currently have three stocks in the Paper Trade Portfolio.
ATVI had a nice price action uptrend yesterday closing above the cost basis after bouncing off the 20-day EMA. The MACD and RSI are still positive with a slight rollover of the Stochastic. Support remains at the 9-day SMA with some resistance expected at the upper Bollinger band followed by more sell orders found around 84.73. This position is providing a $0.40 / share gain to the portfolio as of yesterday’s close.
ABT closed up above the upper Bollinger band and past the 50-day SMA which had been a point of resistance for the past three days. Short-term moving averages (9 & 20) are trending up and close to crossing over the 200-day SMA. Support will be at the 200 with resistance found around 108.92. This position is providing a $2.36 / share gain to the portfolio as of yesterday’s close.
KO closed up right on the upper Bollinger band. There was a golden cross of the 9-day SMA over the 200-day SMA which is considered a bullish move. Support will be found at the 20-day EMA with the next level of resistance at the 50-day SMA. This position is providing a $0.71 / share gain to the portfolio as of yesterday’s close.
With one week remaining in June, the Paper Trade Portfolio is up about $2400.00 for the month with another $347.00 of unrealized gains still available. We have booked 14 winning paper trades with just 3 losing trades or a 14-3 record MTD. Utilization of the trading guidelines (including the use of buy and sell limits) along with a conservative risk management strategy have provided paper trade gains with minimal losses.
Trading success can never be guaranteed; however, we can increase the probability of better trading results following a sound trading strategy.
This information is for educational purposes and not a recommendation to buy or sell a stock.
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