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[Platinum Watchlist] (6.27.23) 2 stocks

[Platinum Watchlist] (6.27.23) 2 stocks
August 22, 2023

Good morning. 

Futures are flat today as today’s market conditions include lower prices for the Semis and the Fed Chair speaking in Europe. 

ABT closed down yesterday with price action bouncing off the 50-day SMA which has provided us with a support level. The Stochastic has rolled over. Resistance is at 109.86. The paper trade portfolio is up $1.90 / share on this position as of yesterdays close. We are seeing the start of a sideways trading pattern so taking some gains may be a prudent move.  

PM closed down slightly yesterday after gaping down to support at the 200-day SMA. Resistance can be found at 98.56 and price action trend is still moving up.

 

Continue to manage the current stocks in your portfolio utilizing support and resistance for placing stops and limit orders to preserve gains and reduce the severity of potential losses. 

Have a great day! 

This information is for educational purposes and not a recommendation to buy or sell a stock.

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