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[Platinum Watchlist] (6.29.23) 2 stocks
[Platinum Watchlist] (6.29.23) 2 stocks
August 22, 2023
Futures are up this morning after the major banks reportedly passed their “stress tests”. Let’s take a look at the two positions in the paper trade portfolio.
PM closed down yesterday slightly above the 200-day SMA which is our support level. The resistance level will be at 97.71, where we will see some sell orders. the 9-day SMA is still trending up and looks to be showing a positive cross over of the 200. This position is currently providing the paper trade portfolio with a $0.57 / share unrealized loss as of yesterday’s close.
ABT closed down yesterday with a short trading range above the support level at the 50-day SMA. The up trending 9-day SMA is about to show a positive crossover of the 50. This position is currently providing the paper trade portfolio with a $1.72 / share unrealized gain as of yesterday’s close.
Utilize support and resistance in your trading game plan to increase the probability of a successful trade.
This information is for educational purposes and not a recommendation to buy or sell a stock.
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