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[Platinum Watchlist] (7.27.23) 4 Stocks
[Platinum Watchlist] (7.27.23) 4 Stocks
August 22, 2023
Good morning.
Futures are up this morning after META came out with earnings.
Yesterday BAX was sold out of the Paper Trade Portfolio providing a 4.20% gain on the trade. Per my trading guidelines, I exit positions prior to earnings reports which came out this morning. Baxter International reported Q2 adjusted earnings Thursday of $0.66 per diluted share, down from $0.87 a year earlier. In pre-market trading, BAX is down $1.15 / share or -2.35%. It is important to note that there is no guarantee that the price of a stock will move in a particular direction after an earnings announcement. However, by exiting their position prior to the announcement, swing traders can avoid the risk of reduced gains or significant losses.
COP continued its price action climb along the upper Bollinger Band yesterday. SUpport is at the 9-day SMA and price is closing in on the resistance level of 118.36. This will provide swing traders with an opportunity to take some profits with sell limits just under or at this resistance level.
The Horizon stock list has done well so far this week with 6 of the 7 listed stocks showing gains. If you have a position in Horizon Stocks MU or DUK, you may want to consider taking some profits as MU is hitting its resistance level and DUK is moving in on the 200-day SMA where it may find some 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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