Today marks the final trading day in June and for the 2nd quarter. We also have a shortened trading week upcoming with the U.S. markets closed next Tuesday for Independance Day. I’d expect volume to be lower on Monday as traders take an extended holiday weekend. Let’s take a look at the Paper Trade Portfolio.
PM price action bounced off support at the 9-day SMA to close above the cost basis. All the oscillators remain in the green and the 9-day SMA is about to complete a golden crossover of the 200-day SMA. Support is at 96.30 with some sell orders expected around 98.88. This position is currently providing the paper trade portfolio with a $0.92 / share unrealized gain as of yesterday’s close.
ABT closed up yesterday finding support at the 50. Price action flirted below the 9-day SMA but was able to close above this level. Resistance is currently found at 108.25 where some gains may be taken.
Being it’s the end of the week in front of a shortened trading week, I personally prefer not to add swing trade positions to the portfolio. However, for those more adventurous take a look at CHTR which is on the Horizon’s stock list.
CHTR has seen upward price momentum and has surpassed the 200-day SMA which should act as a level of support. The 9-day just had a golden crossover of the 50 and all the oscillators are green. Resistance is at 369.97. Price is trading above the upper Bollinger band, so expect that price may get reigned in a bit.
For more on Bollinger Bands, go to the blog-education channel. Don’t forget to join us later today for the Platinum ZOOM call. Have a great weekend.
This information is for educational purposes and not a recommendation to buy or sell a stock.
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