News / Uncategorized
[Platinum Watchlist] (5.17.23) 3 Stocks
[Platinum Watchlist] (5.17.23) 3 Stocks
August 22, 2023
Good morning.
Futures are looking greenish this morning as the market weight the possibility of a debt ceiling compromise.
We still have VCYT in the paper trade portfolio which is currently $1.00 / share above the cost basis. Support is the cost basis followed by an up trending 9-day SMA. Resistance is at 25.49. Stops could be put above cost basis to preserve a small gain and just below resistance to maximize gains in accordance with range bound trading.
UAL was on the Horizons list and just qualified to be upgraded to the Watchlist in accordance with the trading guidelines. Note that price action is just above a slightly up trending 9-day SMA. The MACD and Stochastic are barely above their signal lines. I’d like to see more separation between these lines and a strengthening RSI. This stock is in a flat to sideways trading pattern like much of the broader market. Support is at the 20 and resistance is at 48.49. Not the best set-up, but it slightly meets the trading guidelines. This would be more of a higher risk play at the moment.
We the have traded in and out of SEDG two times utilizing support and resistance as our entry and exit points. SEDG closed yesterday right above the (rising but flattening out) 9-day SMA which would be the new support level. If there is a bounce, I’d look for some resistance above 301 followed by 318.85. Note the RSI took a bit of a downturn yesterday but is still slightly above the 50 level. If the trade goes against us, we will see the next level of support at 292.21 followed by the 200-day SMA. Again, this is a higher risk trade so be cautious and utilize tighter stops if you choose to go down this path.
In range bound markets, swing traders may need to adjust their profit targets and be content with smaller gains within the range or just wait on the sidelines for better set-ups.
Have a great day! This information is 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] (5.17.23) 3 Stocks
August 18, 2024