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[Platinum Trading Alerts] Sell Signal Triggered for 2 stocks
[Platinum Trading Alerts] Sell Signal Triggered for 2 stocks
August 21, 2023
PAPER TRADE ONLY
SOLD PEP – $176.60
Hit the 50-day SMA which is resistance where a sell order was set. Gain was 0.19% in 8 days of choppy trading.
SOLD ABBV – $152.92
Hit sell limit set under the resistance level. This is the third day we had trades below the 9-day SMA but recovered above.
This gives us a .59% paper trade gain in 8 days of very volatile market conditions.
On a solidly down day in the market, these 2 positions had strong price action and with the FOMC meeting minutes being released tomorrow, exiting with gains was a prudent move in this down-trending market.
Swing traders with a higher level of risk tolerance could still be in this trade based on my guidelines, but as you all know, my strategy is more risk adverse.
This information is provided for educational purposes only and is not a recommendation to buy or sell a security.
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