This will be the final day of trading for the week as the markets will be closed tomorrow for Good Friday. On Friday, the jobs report will be released, and the market will have three days to interpret the data. Typically, traders do not like to hold positions over a three-day weekend and this report will provide some a reason to exit the market today.
I don’t anticipate entering any additional positions today but will remain focused on managing the current positions in the portfolio which have been analyzed above.
AWK was on the Horizon List yesterday as it closed above the 200-day SMA right at the resistance level of 150.21. Traders wishing to enter a position would try to get in below that level utilizing a buy limit.
If the trade was executed, a stop loss would be set below support at the 200-day SMA. The next level of sell orders would be encountered around 153.15.
Make sure you have a trading plan (guidelines) and manage risk on every trade to increase the probability of successful swing trades.
Have a great holiday weekend! This information is being provided for educational purposes and is not a recommendation to buy or sell a security.
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