News / Uncategorized
[Platinum Watchlist] Updates on 2 stocks!
[Platinum Watchlist] Updates on 2 stocks!
August 21, 2023
Good morning.
Stock futures are down again this morning as the market may be coming to the realization that the FED will most likely have to continue to raise interest rates this year. Several FED speakers have backed this up.
Downward trending markets are necessary for swing traders with regard to providing us with potential set-up.
PEP closed down yesterday 0.28% just above the upward trending 9-day SMA (current support) after wicking up to the 50-day SMA which has been resistance. The SS has showed a slight roll-over. Price action trend is down which is bearish.
ABBV gapped down to close just above the 9 & 200 day SMA which is the last line of support after wicking up above the 20. The RSI is below 50 and we have a slight roll-over of the SS. Stops should be set to reduce the potential loss.
Here is the takeaway from this week: Risk tolerance has a lot to do with swing trading. Those who are risk adverse (like me) would not have entered into these positions this week because of the CPI and PPI reports coming out even though the guideline parameters are met.
I stated this on Monday. Those with moderate risk levels would have entered the position on Monday and set stops on Tuesday above cost basis and got stopped out with a slight profit on Tuesday.
Traders with high risk tolerance would still be in the trade today, waiting for a full candle close below the 9-day SMA in the event price action finds hard support at the 9-day and reverts to an upward trend. Higher level of risk – Higher level of reward/loss.
Risk tolerance is different for each individual trader. You have to understand your risk tolerance level which is why we paper trade to gain that experience and get the feel of the market. Technical analysis is a tool that help us make trading decisions. It’s up to the trader to determine how far you want to test this tool.
This information is for educational purposes only and is not a recommendation to buy or sell a security.
Share this article:
More in Uncategorized:
Ultra Clean Holdings (UCTT) July 25, 2024, Earnings Call Summary
Future Price Projections Participants: Rhonda Bennetto – Senior Vice President, Investor Relations Jim Scholhamer – Chief Executive Officer Sheri Savage...
[Platinum Watchlist] Updates on 2 stocks!
July 26, 2024
APPLE, MICROSOFT, NVIDIA PRICE TARGET 🎯
Short term, price targets for the top three S&P 500 holdings
Short term, price targets for the top three S&P 500 holdings The following are my price targets for the very...
![Trent Grinkmeyer in front of stock market with bull background](https://bestofusinvestors.com/uploads/2023/06/trent-e1687263019450-300x300.webp)
Trent Grinkmeyer
July 25, 2024
Nvidia's Stake in Serve Robotics: A Game-Changer for AI-Powered Delivery?
The tech world was buzzing last week when news broke that AI chip giant Nvidia owns a 10% stake in Serve Robotics, a company specializing in autonomous sidewalk delivery robots. This revelation sent Serve's stock soaring an impressive 233% over two days. But what does this mean for the future of AI-powered delivery, and should investors jump on board?
The tech world was buzzing last week when news broke that AI chip giant Nvidia owns a 10% stake in...
![Trent Grinkmeyer in front of stock market with bull background](https://bestofusinvestors.com/uploads/2023/06/trent-e1687263019450-300x300.webp)
Trent Grinkmeyer
July 24, 2024
The Commercial Real Estate Crash
Its Ripple Effect on the Banking System and The Stock Market
The commercial real estate market is on the verge of a significant downturn, potentially mirroring the infamous 2008 financial crisis....
[Platinum Watchlist] Updates on 2 stocks!
July 23, 2024
The Democratization of Compute
A Paradigm Shift in Business and Investment Artificial Intelligence (AI) is undeniably transformative, poised to revolutionize the world as we...
![Kerry Grinkmeyer in a suit standing in front of a stock chart with a bull on it](https://bestofusinvestors.com/uploads/2023/07/kerry-300x300.webp)
Kerry Grinkmeyer
July 23, 2024
Are Google and Meta Heading for a Stock Price Slump?
As an investor, it's crucial to keep a keen eye on market trends and potential shifts that could impact major players. Today, I want to discuss two tech giants that have long been darlings of Wall Street: Google and Meta. While they've enjoyed impressive growth and dominance in their respective fields, there are signs that their stock prices might face some headwinds in the near future.
As an investor, it's crucial to keep a keen eye on market trends and potential shifts that could impact major...
![Trent Grinkmeyer in front of stock market with bull background](https://bestofusinvestors.com/uploads/2023/06/trent-e1687263019450-300x300.webp)
Trent Grinkmeyer
July 23, 2024