News / Uncategorized
[Platinum Watchlist] (3.7.23) Updates on 3 stocks
[Platinum Watchlist] (3.7.23) Updates on 3 stocks
August 21, 2023
Good morning.
We exited the SKX position yesterday with a slight gain with a stop limit set above the 50-day SMA as we saw a negative crossover of the Stochastic. We are also seeing a rollover of the RSI which is just slightly above the 50 level. Price action is still above the 9-day SMA and more risk tolerance traders might still be in this trade, however I would follow the direction of the oscillators in this case.
APD closed down .72% yesterday but price action is still well within the trading guidelines. With this position, a stop limit will be set above the cost basis to protect the gains. We have 2 days of DED testimony in front of congress which could lead to some price chop and profit taking. We are in this to book gains and prevent losses.
BRKB gave us ascending price action above all the critical moving averages. The oscillators are all positive and showing strength. A buy limit was set above the Monday closing price which was hit at 312.55. Consider setting at least a partial lot stop order above the cost basis to defend gains in the event the FED testimony tanks the market. Where you set stop limits is a function of your level of risk tolerance.
For more potential swing trading ideas, check out the “Horizons” stock channel as there were several positions with full candle closes above the 9-day SMA. The “horizon” stock list is a carefully curated selection of stocks that may not be immediate swing trade candidates but possess positive traits that could lead to future profitable trades.
It’s important to exercise patience and discipline when using the horizon list, as we are waiting for the right conditions to develop before taking action.
The ultimate swing trading objective is to generate consistent profits while managing risk through proper position sizing and risk management techniques. Have a great Day! This information id for educational purposes and is not a recommendation to buy or sell a security.
Share this article:
More in Uncategorized:
Hedge funds and banks typically use multiple time frames for intraday trading
Hedge funds and banks typically use multiple time frames for intraday trading, as this allows them to gain a comprehensive...
![Trent Grinkmeyer in front of stock market with bull background](https://bestofusinvestors.com/uploads/2023/06/trent-e1687263019450-300x300.webp)
Trent Grinkmeyer
August 30, 2024
Nvidia Earnings Call: A Record Quarter with a Twist
Nvidia’s Q2 earnings call was a mixed bag, with the company reporting a record quarter but also revealing a drop...
![Kerry Grinkmeyer in a suit standing in front of a stock chart with a bull on it](https://bestofusinvestors.com/uploads/2023/07/kerry-300x300.webp)
Kerry Grinkmeyer
August 29, 2024
Nvidia Earnings: A Critical Moment for Big Tech
As we approach Nvidia’s earnings report, the tech world holds its breath. This isn’t just about one company’s performance; it’s...
![Trent Grinkmeyer in front of stock market with bull background](https://bestofusinvestors.com/uploads/2023/06/trent-e1687263019450-300x300.webp)
Trent Grinkmeyer
August 28, 2024
The Sleeping Giant: Why Intel is an Undervalued Stock
As the world’s largest semiconductor company, Intel (INTC) has long been a household name in the tech industry. However, despite...
![Kerry Grinkmeyer in a suit standing in front of a stock chart with a bull on it](https://bestofusinvestors.com/uploads/2023/07/kerry-300x300.webp)
Kerry Grinkmeyer
August 23, 2024
The Trillion Dollar Addiction...
The Trillion Dollar Addiction That Amazon, Google, Meta and Microsoft Will Be Selling Next Year As I discussed in my...
![Kerry Grinkmeyer in a suit standing in front of a stock chart with a bull on it](https://bestofusinvestors.com/uploads/2023/07/kerry-300x300.webp)
Kerry Grinkmeyer
August 19, 2024
What is an AI Agent? What Can It Do For You? Where Can You Get One?
As I discussed with my tribe during our recent stock talk, I’m excited to share with you the concept of...
[Platinum Watchlist] (3.7.23) Updates on 3 stocks
August 18, 2024