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[Platinum Watchlist] (7.19.23) 3 Stocks

[Platinum Watchlist] (7.19.23) 3 Stocks
August 22, 2023

Good morning. 

There were a few sell alerts for the paper trade portfolio which can be reviewed in the above post. 

NSC closed up yesterday with all the oscillators in the green and price above all the critical SMAs. Support remains at the 9-day SMA with some sell orders around 239.05. This position is currently providing the paper trade portfolio with a $3.12 / share unrealized gain as of yesterday’s close. Earnings are announced on July 22, so per the trading guidelines, I will be exiting this position prior to this date. 

PKG closed up above the upper Bolinger Band yesterday where a sell limit order was triggered in the paper trade portfolio. With all the oscillators in the green and price action using the 9-day SMA as support and the Upper Bolinger Band as resistance, a properly set buy limit order around support may give the portfolio an opportunity to squeeze some additional gains out of this position. Be patient and let the price come to you. July 24th is earnings so be prepared to exit this position prior to this date per the trading guidelines. 

MU was on the Horizon’s List at 64.08 and had a slight MACD crossover of the Signal line yesterday. The RSI is at 51, so look for more strength and the Stochastic is above the %D line. Support will be at the up-trending 9-day SMA with resistance at the 50-day SMA. Traders may be able to attain a better cost basis by setting a buy limit order closer to the support level and let price action variation try to trigger the order.  

Follow your trading plan and manage risk utilizing stop limit orders. Identify support and resistance levels and use them as a guide for placing buy and sell orders.

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

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