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[Platinum Trading] Stocks set up for some good trades!

[Platinum Trading] Stocks set up for some good trades!
August 21, 2023

Market futures are down this morning as we wait the results of yesterday’s election. Oil is also down, and the 10-year treasuries are up. 

Yesterday we sold half of our position in GE for a gain of 3.94% and we still maintain a position as the charts are still favorable for more potential gain. We will once again utilize stop limits to preserve our gain in our remaining position. 

 Maderna (MRNA) and Baker Hughes (BKR) continue to show positive set-ups with room to run up to resistance. If you do decide to paper trade either of these stocks, make sure you follow our guidelines and set stop limits.  

I suspect these markets to be quite choppy as the election is still in question. In addition, we will have the October CPI report coming out tomorrow, so be patient and let the market work for you.   

I have a couple more bonus stocks to put on your watchlist that have good potential swing trade set-ups:  Brinks – BCO and Universal Logistics – ULH Both have one candle closes yesterday above the 200 day SMA. 

We will want to watch these for confirmation to see if they can remain there today. We also see positive readings in the MACD, & RSIs for both. Once again, follow our guidelines if you choose to paper trade and set limits to preserve gains or reduce downside losses. 

Also, be careful of the volume. Low volume stocks can have wide spreads between bid and ask.  Remember, the pre-markets are currently negative, so be patient. We don’t always need to be in a trade. We are shooting for singles and doubles and don’t have to swing at every pitch. There is always tomorrow.  This information is being provided for educational purposes only and is not a recommendation to buy or sell a security. 


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