Stock futures for major US markets are down this morning as we are expecting a boatload of earnings reports today. Let’s review our paper trade portfolio.
CENX closed down just .01 yesterday still trading above the 9-day SMA. Resistance remains at 11.96 and support at the 9-day SMA. The trading pattern has been sideways for the past 9 days which is not what I want to see in swing trade price action. The 9, 20 and 50 SMAs continue in an upward trend and indicators remain positive. The MACD line is slowly rolling over towards the signal line, so be aware and set stops accordingly to reduce potential losses.
OXY closed down yesterday but still maintained a level above the 50-day-SMA. If price drops below this level the next support would be the 9-day SMA. Indicators still are tracking positive. Upper-level resistance is currently at 71.10.
ZTS had a nice run yesterday and closed up 1.79% at 166.75. Upper resistance lines are currently at 173.81. Indicators are still trending positive. The goal is to protect our paper trade gains standing at 4.36/share setting stops above our cost basis.
This information is being provided for educational purposes only and is not a recommendation to buy or sell a security.
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