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[Platinum Watchlist] (3.27.23) 3 Stocks on our Radar for Swing Trades
[Platinum Watchlist] (3.27.23) 3 Stocks on our Radar for Swing Trades
August 21, 2023
Good morning
1. ABBV remains on the watchlist with the MACD and RSI remaining in the green as the Stochastic has shown us a slight rollover. Price action continues to find support at the 9-day SMA which is now above the cost basis of 154.55. There will be resistance at 160.64 where some traders may have sell orders. The next level of resistance will be 163.10. Protect your gains using stop limits.
2. PFGC is trading above the 200-day SMA finding price action support at the 9-day SMA. All oscillators are in the green, however we would like to see more strength in the RSI. We should expect some resistance around the 50-day SMA at 58.39 followed by 59.71.
3. AJG is trading above its 9 & 200-day SMA after finally breaking through the resistance level at the 20-day EMA. Support will be found at the 185.06 level followed by the 20 EMA at 184.66. The 9-day SMA is about to move above the 200-day SMA which is a bullish trend, and all the oscillators are in the green. We would still like to see more strength in the RSI. Loog for resistance at 189.03.
Be sure to set stop limits to protect any gains as these markets are moving fast. Utilize support and resistance as potential entry and exit points as determined by your individual risk tolerance.
This information is for educational purposes and is not a recommendation to buy or sell a security.
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