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[Platinum Watchlist] (3.31.23) 7 stocks on the watchlist

[Platinum Watchlist] (3.31.23) 7 stocks on the watchlist
August 21, 2023

Good morning  

KHC: Price action triggered a sell order just above resistance at 38.95. The stochastic was starting to rollover and there was sideways movement in the price for the last couple days. The gain was .91% or $35.00 for a 100-share lot. 

AJG price hit a sell order for 1/2 the position just above the resistance line for a 1.96% gain and profits of $182.00. The remaining position was protected on the downside with a stop limit that was almost hit above cost basis which was support. The 50 SMA has been a strong level of resistance and we will want to see more strength above this level up to 193.35.  

ABBV has been trading sideways but still above the SMAs. There is a slight rollover of the Stochastic. Support is at the 9-day SMA with resistance at 163.10. A 1/2 position still remains in the portfolio.  

KO has a slight rollover of the Stochastic. Support will be the cost basis at 61.35 with resistance found at 62.90 where some selling may occur.  

DOW has an RSI just above 50, so more positive momentum will be required to keep price action moving up. Support is at the 20 with some selling pressure around 54.95 followed by the 50-day SMA.  

PPH closed up after wicking down to support at the 50 SMA just above cost basis. Resistance will be found around 77.69 followed by 78.35.  BRKB failed to close above resistance at the 50 SMA and wicked down to support at the 20 SMA. RSI is just above the 50 level, so look for more strength in momentum.   

GILD is from the Horizons list and had a full candle close above the 9-day SMA. Support will be at the 20 SMA with resistance at the 50 SMA followed by 83.83.  Utilize Support & Resistance for possible entry and exit points. 

Let the market work for you and don’t be afraid to take profits or get out of a losing position. Wealth preservation is the name of the game.  

Have a great weekend!  

This information is for educational purposes only and is not a recommendation to buy or sell a security.

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