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[Platinum Watchlist] (6.5.23) 4 stocks to watch

[Platinum Watchlist] (6.5.23) 4 stocks to watch
August 22, 2023

Good morning.  

Last week 1/2 position of DD was taken off the table as there was a sizable gap up in price action that we wanted to take advantage of. The description is in the above post. Price acti0n Bolinger Band which can mean trading is overstretched and prices may turn around; watch for signs of reversal. But be aware that momentum may be strong enough to first continue in the direction that the Bollinger Band was pierced. Resistance can be seen at 72.37 with support at 69.25. There is a slight rollover of the Stochastic.  

ON wicked up to resistance at 89.35 before retreating to just above the cost basis. Support will be around the 9-day SMA. All the indicators are in the green as of Friday’s close.   

SWKS wicked up to resistance at the 50-day SMA before retreating to just above the cost basis. Support will be around the 9-day SMA. There is a slight rollover of the Stochastic.   

WDC is trading in the middle of its range after a full candle close above the 9-dat SMA. The Stochastic shows a slight rollback. With support at the 9-day SMA and resistance at 41.81. it would be prudent to wait for a pullback toward the support level for a possible entry point to improve your upside potential.  

Remember, markets can be quite volatile at the open. At the market open, there may be a buildup of unexecuted orders from the previous day or new orders placed before the market opens. These orders can create imbalances between buy and sell orders, leading to increased volatility as the market seeks to match buyers and sellers. If there is an excess of one type of order (buy or sell), it can cause rapid price movements as the market adjusts to find equilibrium. It’s important to note that while the market open can be volatile, volatility tends to subside as the trading day progresses and more participants enter the market.  

Have a great day.  

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

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