ABBV closed down .30% above all its critical SMAs. All of the oscillators are in the green. Support will be at the 9-day SMA which is currently above the cost basis. Sell stop limits may be found slightly below this level to protect gains. Sell limits might be found around the 160.64 level which will mark the next level of resistance.
PFGC closed up .87% wicking up to just below the 50-day SMA at 58.37 which is currently the resistance level. Support will be at the cost basis at 56.98 followed by the 20-day EMA which is below the cost basis. All the oscillators are in the green.
AJG Closed up .25% after wicking up to 187.59 before being beaten back by the bears. The first level of support will be the cost basis at 185.66 followed by 184.80. Resistance can be found around the 189.03 level. All the oscillators are in the green, however more strength in the RSI would be helpful.
From the Horizon List:
KO closed above its 200-day SMA yesterday. This level will now become support with resistance at 62.37 where trader may encounter stop limit orders. All the oscillators are in the green.
KHC had a full candle close above the 9-day SMA which will be the new support level followed by the 200 SMA. Upward resistance will be found around 39.30 where the 50-day SMA is located. This is where stop limit orders may accumulate.
PPH gapped up with a full candle close above the 9 after wicking up to the 50-day SMA where price action found resistance. Support will be found around the 20 SMA around 75.41. All the oscillators are in the green. Take note of the gap in price action yesterday as many times this will be filled if positive price action cannot be maintained.
The Horizon list is equivalent to our farm league where stocks are developed per the guidelines in order to be moved up to the watchlist.
Have a great day! This information is for educational purposes only and is not a recommendation to buy or sell a security.
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