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[Platinum Watchlist] (3.29.23) 7 Stocks we are looking at this week!

[Platinum Watchlist] (3.29.23) 7 Stocks we are looking at this week!
August 21, 2023

Good morning  

PFGC again found resistance at the 50-day SMA and wicked up just below the 59.02 level where sell limits were placed. Our sell limit was hit at 58.50 for a 2.67% gain or $152.00 on a 100-lot position. Oscillators are still green and price action is above all the major SMAs. Resistance is still at the 50 with support at the 20-day EMA.  

ABBV closed up .45%. Price action is above the major SMAs, and all the oscillators are in the green. Support is the 9-day SMA while there should be some resistance at the 159.50 level followed by 163.10. We still maintain a 1/2 paper trade position.   

AJG closed up .39% after hitting support at the cost basis at 185.66. Resistance will be seen at about 189.03. All oscillators remain in the green.  

KO closed up .11% just above the cost basis of 61.38. Support will be the 200-day SMA where stop limits will be found around that level. Resistance will be found at 62.37 where traders may find some sell orders. All the oscillators are in the green with price action above the SMAs.  

KHC closed down just above the 20-day EMA where support lies. The next level of support will be the 200-day SMA. Resistance will be at the 50-day SMA at 39.22. The RSI has moved below the 50 level so set stops to match your risk tolerance level.  

PPH closed just below the cost basis of 76.59. Resistance is the downward sloping 50-day SMA and support can be found around the 20-day EMA. The oscillators are all green. Price action need to move beyond the 50-day SMA to maintain positive momentum.  

DOW had a 1 candle close above the 200 SMA which is now support where we may find stops. Resistance will be found at the 20 EMA at 53.32 followed by 54.24 where we may find sell limits. Note that the RSI is below the 50 level but ascending. The MACD and SS show a slight positive cross.   

Alway manage risk & defend your gains!  This information is provided for educational purposes and is not a recommendation to buy or sell a security.

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