Skip to content

News   /   Uncategorized

[Platinum Watchlist] (5.19.23) 3 stocks on our Radar

[Platinum Watchlist] (5.19.23) 3 stocks on our Radar
August 22, 2023

Good morning.  

Stock futures are up a bit as the market holds hope that an agreement will be reached regarding the raising of the US debt ceiling. We had a couple range bound paper trades yesterday with IT and SEDG yesterday which are discussed it the above post.  

VCYT remains in the paper trade portfolio with price action remaining between the support level at the 9-day SMA and resistance at 25.49. Price action is still above all the SMAs; however we are starting to see the shorter-term moving averages (9 & 20) staring to flatten out. The stochastic has negatively crosses the %D line. In order to maintain gains, stop limits could be utilized at or above the support level and at or below the resistance level.   

ROST was on the Horizons List and had a one candle close above the 9-day SMA with all indicators in the green. HOWEVER, this morning UBS analyst Jay Sole maintains Ross Stores (ROST) with a Sell and raises the price target from $77 to $78. I’d expect negative price action at market open because of this analyst action, so let this play out and see where price action takes us.  

STX comes from the < 200 Stock List with a full candle close above the 200-day SMA yesterday. All the oscillators are in the green and we are seeing up trending 9 & 20 moving averages. Closing price was 62.75. Resistance is around 64.17 which provides a 1.42 upside potential. Support is at 61.12 which provides a 1.63 downside potential. Like IT and SEDG yesterday, a potential strategy is limit orders could be placed around the support level to see if price action could trigger a buy at a lower price point providing more upside potential. Always consider risk / reward when evaluating a trade and be aware of the price volatility of stocks at market open. 

 I’m not a fan of opening new positions ahead of a weekend especially with the unknowns of the debt ceiling debate, This information is for educational purposes and not a recommendation to buy or sell a stock.

Share this article:

More in Uncategorized:

Bitcoin Whale Emerges!

A Bitcoin whale moved 2,000 BTC that had been dormant since 2010, but this action had no noticeable effect on Bitcoin's price. Typically, such large movements can cause market apprehension, yet this time it was completely ignored, suggesting Bitcoin's price is currently independent of such news.

A Bitcoin whale moved 2,000 BTC that had been dormant since 2010, but this action had no noticeable effect on...

Trent Grinkmeyer in front of stock market with bull background

Trent Grinkmeyer
March 28, 2024

Exploring the Impact of Bitcoin A Five-Year Analysis

In the dynamic world of finance, the relationship between cryptocurrencies and traditional stock markets has always been a topic of...

Trent Grinkmeyer in front of stock market with bull background

Trent Grinkmeyer
March 27, 2024

Exploring the Impact of Bitcoin

A Five-Year Analysis

A Five-Year Analysis In the dynamic world of finance, the relationship between cryptocurrencies and traditional stock markets has always been...

Trent Grinkmeyer in front of stock market with bull background

Trent Grinkmeyer
March 27, 2024

Best of US Investors

Platinum Channel Swing Trading has EPIC Year in 2023

Experience remarkable trading success with the Platinum Channel! In 2023, our Swing Trading Program showcased an outstanding performance. With a...

Mark Willet in front of stock market with bull background

Mark Willet
January 7, 2024

‘I’ll Just Ride it Out’

Buy and holders justify losing money

Buy and holders justify losing money Yesterday I was in Birmingham visiting family and decided to go for a mountain...

Trent Grinkmeyer in front of stock market with bull background

Trent Grinkmeyer
October 26, 2023

Markets Becoming Predictable?

How Market Markers Hedge

How Market Markers Hedge From my point of view, it is. Much of the market's predictability is due to the...

Trent Grinkmeyer in front of stock market with bull background

Trent Grinkmeyer
October 24, 2023

Register for the Best of US Investors Newsletter

Get daily financial news delivered to your inbox. Join today.

©2024 Best of US Investors. All rights reserved.

Site by KMA

Disclaimer

This Best of US Investors website is not and should not be considered investment advice. This Best of US Investors website is for informational purposes only. Nothing on this Best of US Investors website constitutes a recommendation to buy, sell or hold any security at any time. Always consult with a financial professional that is familiar with your specific situation before making any investment or trade.

Use of this Best of US Investors website is at your own risk. Best of US Investors makes no warranties about the accuracy, completeness or reliability of any content on this Best of US Investors website.

All the information on this Best of US Investors website is provided “AS IS”. Do not rely on any statements made on this Best of US Investors website.

In no event shall Best of US Investors be responsible or liable for any damage that occurs while using or reading any content on this Best of US Investors website.

Best of US Investors may have a position (long, short or neutral) in any security mentioned on this Best of US Investors website and therefore may realize significant gains in the event that the price of the security mentioned on this Best of US Investors website declines or appreciates.

Best of US Investors may buy and/or sell any security mentioned on this Twitter account at any time and for any reason. I may trade contrary or different to the information provided on this Best of US Investors website. You should assume that any email or post on this Best of US Investors website may cause the price of the security mentioned to appreciate or decline in a dramatic way.

Best of US Investors may continue to transact in any security mentioned on this Best of US Investors website an indefinite period of time after any email or post and such positions may be long, short or neutral at any time hereafter regardless of the initial view or positions stated on this Best of US Investors website.

In no event shall Best of US Investors be liable for any claims, losses, costs or damages of any kind including direct, indirect, punitive, exemplary, incidental, special or consequential damages, arising out of or in any way connected with any information presented on this Best of US Investors website. This limitation of liability applies regardless of any negligence or gross negligence of Best of US Investors or any company affiliated with Best of US Investors. You accept all risks in relying on the information presented on this Best of US Investors website.

If any statement in this legal disclaimer is held to be invalid or unenforceable, then the remaining provisions shall continue in full force and effect.

For more information, contact [email protected] .