Futures are down this morning as Moody’s cut the ratings of 10 banks by one notch and placed six banking giants, including Bank of New York Mellon ( BK ), US Bancorp ( USB ), State Street and Truist Financial ( TFC ) on review for potential downgrades.
CADE closed up yesterday finding support at the 9 with resistance found around 26.22. The 9-day SMA is now above the cost basis. Protect your gains with sell limits above the 9 and take some off the table around the resistance level. This position is currently providing the paper trade portfolio with a $1.05 / share unrealized gain as of yesterday’s close.
TRMB wicked down yesterday and allowed the portfolio to attain a better cost basis as price action closed above this level. Support will be at the 9-day SMA with selling pressure found around 56.02. This position is currently providing the paper trade portfolio with a $0.77 / share unrealized gain as of yesterday’s close.
The goal today will be to manage the current positions to assure we preserve portfolio gains. I’m currently away from the office, so I’ll utilize sell limits to manage the portfolio risk to the downside. Have a great day.
This information is for educational purposes and not a recommendation to buy or sell a stock.
Share this article:
More in Uncategorized:
Experience remarkable trading success with the Platinum Channel! In 2023, our Swing Trading Program showcased an outstanding performance. With a...
January 7, 2024