News / Uncategorized
[Platinum Watchlist] (7.10.23) 2 stocks
[Platinum Watchlist] (7.10.23) 2 stocks
August 22, 2023
Good morning.
Wall Street’s main indexes ended last week lower after a mixed jobs report showed the domestic economy added fewest jobs in two-and-a-half years in June. All eyes will be on U.S. inflation data this week that will feed into the Federal Reserve’s interest rate decision later in the month.
We had a shortened trading week to start out Q-3 and the Paper Trade Portfolio has a clean slate this week. There is not too much to look at due to last week’s market slide but here are a few stocks to ponder.
AIG is trading above all of the critical moving averages finding support at the 9-day SMA and some resistance at the upper Bollinger band. There will be some selling pressure at 59.17. Look for more separation between the MACD and the signal line. As the closing price on Friday was right on the upper Bolinger Band, you may be able to get a better cost basis with a buy limit closer to support.
DVA also has price action above all the critical SMAs. Support is at the 9-day SMA at 99.77 as upside momentum is tracking the upper Bollinger Band. Selling pressure will be seen around 106.46. Like AIG, there may be an opportunity to improve your cost basis with a buy limit order closer to the support level.
Remember, there will be an abundance of orders piled up from the weekend so expect volatility for a while after open. There is no hurry to be in the market so utilize support and resistance levels to help you identify entry and exit points.
Have a great day! This information is for educational purposes and not a recommendation to buy or sell a stock
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