News / Uncategorized
[Platinum Watchlist] (5.11.23) 4 Stocks to keep an eye on
[Platinum Watchlist] (5.11.23) 4 Stocks to keep an eye on
August 22, 2023
Good morning.
Markets continue to trade in a range bound pattern with the Nasdaq testing the upper edge of its range.
PH price action declined $12.23 or -3.61% finally closing above the 20 EMA. Stocks trading at higher price points such as PH ($326.00) require tighter stop limits on the lower side of the cost basis, so the stock price action doesn’t get away from us. This is why I utilized setting stop limits of 1.5% or less. In this case the stop limit kicked in at 334.20 giving us a loss of 1.45% or -$491.00 for a 100-share lot. Closing price for this stock was 326.88 preventing an additional $732.00 of loss in the portfolio.
CARR closed up 0.70% yesterday. All the oscillators are in the green. Support is at the 20-day EMA with resistance found at the 50-day SMA. Set your stop limits to defend gains based upon your individual risk tolerance.
JCI closed down 1.08%. The RSI is still above the 50 level but trending down. Support is at the 9-day SMA with resistance found around 64.63.
VCYT is another Horizons stock that just had a close above the 200-day SMA. In these cases, we want to make sure we are not getting a false positive so it’s prudent to wait for a back test to the 200-day SMA for price action confirmation.
Range-bound markets are prone to false breakouts, where prices briefly move beyond the range before reversing back within it. Exercise caution when trading breakouts and wait for confirmation before entering trades.
It’s important to emphasize that the markets are trading in a range bound trend. In a range-bound environment, the number of high-quality trading opportunities may be limited. It is crucial to be patient and selective in choosing trades.
Focus on setups that offer a favorable risk-reward ratio, align with your trading plan.
Being risk adverse, I’m just waiting on the sidelines until market conditions improve.
This information is for educational purposes and not a recommendation to buy or sell a stock.
Share this article:
More in Uncategorized:
Ultra Clean Holdings (UCTT) July 25, 2024, Earnings Call Summary
Future Price Projections Participants: Rhonda Bennetto – Senior Vice President, Investor Relations Jim Scholhamer – Chief Executive Officer Sheri Savage...
[Platinum Watchlist] (5.11.23) 4 Stocks to keep an eye on
July 26, 2024
APPLE, MICROSOFT, NVIDIA PRICE TARGET 🎯
Short term, price targets for the top three S&P 500 holdings
Short term, price targets for the top three S&P 500 holdings The following are my price targets for the very...
![Trent Grinkmeyer in front of stock market with bull background](https://bestofusinvestors.com/uploads/2023/06/trent-e1687263019450-300x300.webp)
Trent Grinkmeyer
July 25, 2024
Nvidia's Stake in Serve Robotics: A Game-Changer for AI-Powered Delivery?
The tech world was buzzing last week when news broke that AI chip giant Nvidia owns a 10% stake in Serve Robotics, a company specializing in autonomous sidewalk delivery robots. This revelation sent Serve's stock soaring an impressive 233% over two days. But what does this mean for the future of AI-powered delivery, and should investors jump on board?
The tech world was buzzing last week when news broke that AI chip giant Nvidia owns a 10% stake in...
![Trent Grinkmeyer in front of stock market with bull background](https://bestofusinvestors.com/uploads/2023/06/trent-e1687263019450-300x300.webp)
Trent Grinkmeyer
July 24, 2024
The Commercial Real Estate Crash
Its Ripple Effect on the Banking System and The Stock Market
The commercial real estate market is on the verge of a significant downturn, potentially mirroring the infamous 2008 financial crisis....
[Platinum Watchlist] (5.11.23) 4 Stocks to keep an eye on
July 23, 2024
The Democratization of Compute
A Paradigm Shift in Business and Investment Artificial Intelligence (AI) is undeniably transformative, poised to revolutionize the world as we...
![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
July 23, 2024
Are Google and Meta Heading for a Stock Price Slump?
As an investor, it's crucial to keep a keen eye on market trends and potential shifts that could impact major players. Today, I want to discuss two tech giants that have long been darlings of Wall Street: Google and Meta. While they've enjoyed impressive growth and dominance in their respective fields, there are signs that their stock prices might face some headwinds in the near future.
As an investor, it's crucial to keep a keen eye on market trends and potential shifts that could impact major...
![Trent Grinkmeyer in front of stock market with bull background](https://bestofusinvestors.com/uploads/2023/06/trent-e1687263019450-300x300.webp)
Trent Grinkmeyer
July 23, 2024