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[Platinum Watchlist] (5.22.23) 4 stocks
[Platinum Watchlist] (5.22.23) 4 stocks
August 22, 2023
Good morning.
Markets have been flat this morning as they wait for news on the debt ceiling discussions. There are a couple of potential set-ups this morning:
BWA had a full candle close above the 9-day SMA on Friday. All the oscillators are in the green, although look for more strength in the RSI. Price action will most likely find some resistance at the 50-day SMA at 46.87.
STX closed above the 200-dat SMA at 62.26. With resistance at 64.87, there is a $2.61 potential upside and a $1.23 potential downside to support at the 200-day SMA.
ANET had a one candle close above the 20 SMA. The RSI is rising but still under the 50 level. Friday’s closing price of 143.91 is just above the 20-day EMA and $3.35 below the resistance level at 147.20.
BRKB closed above all the critical moving averages and the MACD just positively crossed the signal line. Support is at the 9-day SMA.
Market open is always chaotic with potential wide price swings and larger spreads between bids and asks. Current market conditions are uncertain especially concerning the outcome of the debt ceiling discussions.
Always be patient and let the market come to you with set-ups that meet your trading plan and risk tolerance. If you enter a position, set stops correlated to your risk tolerance an utilize support and resistance levels to your advantage. When I enter a position, I try to set buy limits below the current price to see if I can enter at more of a sale price,
Have a great day. This information is for educational purposes and not a recommendation to buy or sell a stock.
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