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[Platinum Watchlist] (6.7.23) 5 Stocks to watch

[Platinum Watchlist] (6.7.23) 5 Stocks to watch
August 22, 2023

Good morning.  

WDC closed up yesterday above cost basis by $0.48. The 9-day-SMA is support with resistance at 41.03. There is a slight rollover of the Stochastic and a flattening MACD. Preserve your gains with stop limits.  

EBAY had a full candle close above the 9-day SMA on Monday, however price action failed to break through the resistance level at 45.39. With support at the 50-day SMA, there is little upside to this trade unless it breaks the resistance level and gets back tested. This stock was on the Horizons list but now the chart would not provide enough upside for me to want to enter a position at this time. Others, with a higher level or risk tolerance may differ from my view.  

ANDE moved up from the Horizons list with all three oscillators in the green. Closing price was 42.22. Support is the 50-day SMA which is gives a downside potential of $1.49. Resistance is at 43.39 giving us an upside potential of $1.17. A prudent strategy would be to set a buy limit below current price at a level that would improve your risk – reward ratio.  

RTX is also from the Horizons list showing all oscillators in the green, Support is around 96.70 while resistance is around the 50-day SMA. As with ANDE, current price is closer to resistance than support, so it may be prudent to set a buy limit lower than current price to improve the potential risk – reward ratio.  

SYF is from the <200 list. Price action just crossed and back tested the 200-day SMA. Support is at the 200 while resistance is at 34.67. There is 0.88 upside and 1.19 to the downside. 

Potential entry levels should be based upon you risk tolerance and desired risk/reward ratio goals.  

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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