[Platinum Watchlist] (1.11.23) 7 stocks on our watchlist for Swing Trades

Good morning.  

The goal of the watchlist is to provide members a list of stocks that exhibit potential swing trade opportunities based on my trading guidelines. Developing and utilizing guidelines (trading rules), whether they are mine or yours give us a better probability for successful swing trades. 

The other important aspect is risk management. Utilizing stops to preserve your gains or minimize losses is vital to increasing your chances of success. Everyone has differing levels risk tolerances so it’s impossible for me to tell you when you should enter or exit a trade. 

The watchlist provides you with a starting point from which you can practice via paper trading utilizing my trading rules to get familiar with the process. Over time, you will start to get a feel for the market and develop your own swing trading style. That is the goal of this channel. With that said, let’s get on with our watchlist:  

1. CPRT: 

This stock was put on the watchlist on 12-30 with an opening price of 60.79. It closed yesterday at 61.62, a gain of $0.83/share since 12-30. The 9-day SMA is currently acting as resistance and stop limits should be used to manage downside risk.  

2.AMGN: 

Listed on the watchlist on 1-3 where it opened at 260.87. It closed yesterday at 273.88 showing a $13.01/share gain since 1-3. Currently trading between the 20 and 50 day SMAs with positive indicators.  

3. V: 

Put on the watchlist on 1-3 where it opened at $209.28. Yesterday it closed at $218.99 for a $9.71 / share gain since it was put on the watchlist. Price still has some upside momentum to the resistance line.  

4. PAG: 

Listed on 1-5 where it opened at 114.55. As of yesterdays, close at 117.78, we show gains of $3.23/share since 1-5. PAG has been trading sideways for 3 days but still above the 9-day SMA.  

5. DOW: 

Included yesterday and opened up at 55.41. It closed at 56.47 showing a 1.06/share gain. This the 2nd day trading above the 200-day SMA with positive indicators.  

6.CSX: 

Hit the watchlist yesterday and opened at 31.89 and closed at 32.40 for a 0.51 / share gain. We have ascending 9, 20 and 50 day SMAs and trading above the 200-day SMA. Positive cross of the MACD above the zero line and an RSI strongly above 50. My chart shows a resistance line at 34.11. 

7.  IBM: 

This also hit the watchlist yesterday and opened at 143.61. With a close of 144.80, we show a 1.19/share gain from the open. IBM has found some support at the 50-day SMA. We have a small positive crossover of the MACD; however, I’d like to see move strength above the zero line. Upside resistance is at 149.21.  

The reason I prefer swing trading is because I don’t have to sit in front of my computer all day and watch the markets. That’s called day trading. I basically look at the charts, watch the open, set buy or sell limits based on where I see support and resistance and go on with my day. At the end of the day, I review the results and then set up for the next day.   

With swing trading, the most time-consuming part of the process is finding good swing trading candidates. 

I usually review hundreds of stocks over the weekend, so you don’t have to. This is why we provide this watchlist. 

You can concentrate on the guidelines and practice via paper trading to develop your own successful trading style. We also provide the Share-Stock channel where members can ask questions about stocks they are watching.  I want this channel to provide value to the members by providing you with the tools necessary to increase the probability of success as a swing trader. ]

My guidelines provide a foundation on which you can build your own trading rules that best fit your risk tolerance and time horizon.   Have a great day!  This information is for educational purposes only and is not a recommendation to buy or sell a stock