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[Platinum Watchlist] (8.7.23) 2 stocks
[Platinum Watchlist] (8.7.23) 2 stocks
August 22, 2023
Good morning.
We continue with earnings this week along with the CPI and PPI inflation reports later this week. After last week’s down trending markets, there are not many quality swing trading set-ups. In addition, I’ll be away from the office this week for a little R&R so my ability to monitor the markets will be limited.
The Paper Trade Portfolio still contains CADE where we have an ascending 9-day SMA which will act as support; however, it is still under the cost basis at 24.77. There will be some selling pressure around 25.91. All the oscillators are in the green. As I’ll be traveling, I’ll set sell limit orders above cost basis to defend my gains and utilize the resistance level for an upper limit sell order.
TRMB beat on earnings August 3rd resulting in a large price action move above the upper Bollinger Band. Support will be at the 9 which is 1.71 below Friday’s closing price and resistance will be at 56.99 which is 1.22 above the closing price. You may be able to get a better cost basis with a buy limit under current price which would improve your risk / reward ratio.
Be patient this week. There are not that many quality set-ups at the moment, so let the market work for you and not the other way around. I’ll have limited access to markets and data this week, so I’m not really planning to add to the portfolio. Remember, there will not be a ZOOM call this week as I will be traveling. Thanks for supporting the Platinum Channel!
Have a great day!
This information is for educational purposes and not a recommendation to buy or sell a stock
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