[Platinum Watchlist] (6.21.23) 5 stocks on the radar

Good morning.  

Futures are lower this morning as the market conditions factor Powell’s testimony in front of Congress later today.  

AIG closed below cost basis and the 9-day SMA (not a full candle close below) as price action continues its sideways pattern. There is support at the 200 and resistance at 57.93. The MACD is flattening out. Stops will be set to reduce potential downside losses. The paper trade portfolio is showing a $0.13 / share loss on this position as of yesterday’s close.   

PG closed slightly below cost basis with support at the 20-day EMA and resistance at the 50. The RSI is showing some weakness, but the 9-day SMA is still trending up. The paper trade portfolio is showing a $0.29 / share loss on this position as of yesterday’s close.   

RE provided a good entry point yesterday as price action wicked below the 20-day EMA which is support. Resistance is 362.57. Note the RSI is slightly below the 50 level. The MACD and Stochastic are in upward trends.  The paper trade portfolio is showing a $1.71 / share gain on this position as of yesterday’s close.  

 

ATVI price action has support at the 9-day SMA with resistance at 83.48. All of the oscillators are in the green and the 20-day EMA had a golden cross over the 50-day SMA.  The paper trade portfolio is showing a $0.01 / share loss on this position as of yesterday’s close.   

ABT retested the 200-day SMA yesterday which is now support with resistance at the 50-day SMA. All the oscilators are in the green. If price action can break through the 50, the next level of resistance will be 108.88. Better entry points may be attained setting limit buy orders closer to support levels.  

Be patient and set your stops to defend gains or reduce losses. Utilize support and resistance as boundaries and manage your risk.   Have a great day!  This information is for educational purposes and not a recommendation to buy or sell a stock.