Fed rate announcement day so there is no hurry to enter new positions prior to this report and corresponding press conference. The Paper Trade Portfolio currently has three stocks:
SYF which closed above the cost basis yesterday which has been the first level of price support followed by the ascending 9-day SMA. There will be some resistance at the 34.71 level. There is a flattening of the MACD as the lines are moving closer to convergence. The position is showing a $0.35 / share gain as of yesterday’s close.
EQT closed above the cost basis. Support is at the ascending 9-day SMA with resistance found at the 40.07 level. There was a positive crossover of the 200-day SMA by the 9-day SMA a few days ago. The trading pattern has been sideways over the past 4 days. All the oscillators remain in the green. The position is showing a $0.13 / share gain as of yesterday’s close.
AIG Closed above the 200-day SMA for 5 days in a row which has been a nice support level for this stock. Resistance is at 58.92 which would provide a nice gain if price action could break out to the upside. The position is showing a $0.42 / share gain as of yesterday’s close. Continue to manage these positions by defending your gains with stop limits and maximizing potential gains with sell limits.
MDT just had the MACD cross the Signal line and the RSI went over the 50 level. Support is at the 9-day SMA with some resistance at the 50. Next level of resistance will be at 87.51.
NTRA has also seen price momentum closing just under the resistance at the 50-day SMA. Support is at 49.62. The RSI just crossed above the 50 level along with a positive crossover of the %D line by the Stochastic.
Patience is the key when entering a position and we have the FMOC meeting and report later today which could impact the market in either direction.
This information is for educational purposes and not a recommendation to buy or sell a stock
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