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[Platinum Sell Alert] (7.21.23) 1 Stock with $98 Profit
[Platinum Sell Alert] (7.21.23) 1 Stock with $98 Profit
August 22, 2023
PAPER TRADE ONLY
SELL ALERT: NSC – $233.00
Price action unexpectedly gapped down triggering a sell limit order above current cost basis. The cause: Norfolk Southern supervisors didn’t address an engineer’s safety concerns about a train that ended up derailing in February in East Palestine, Ohio, according to preliminary findings released by the NTSB.
These are a part of market conditions that cannot be anticipated by technical analysis which is why I emphasize the utilization of Stop Limits on every swing trade position. It is an insurance policy against volatility caused by market conditions such as negative press report.
This stop limit prevented a large gain from becoming a large loss with just one news event. I had not anticipated this limit would be triggered with the way the chart was progressing. The gain on this paper trade was 0.42% or $98.00 for a 100-share position.
This information is for educational purposes and not a recommendation to buy or sell a stock.
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