[Platinum Watchlist] (2.24.23) 2 stock updates

Good morning.  

Markets are down this morning in the pre-market as the PCE data came in hotter than expected. We also will have the pleasure of hearing from many FED speakers today.

We had a quick 1-day trade in GD yesterday resulting in a 0.43% loss as price action hit the stop limit set at the support level. The SS and RSI also turned negative which provided more reasons to get out of this trade. Never get attached to a stock is #11 on my guidelines.  

We are currently still holding a paper trade position in CPB as it trades between the 20 and 50 period moving averages. Stop limits should be set at a level where a trader feels comfortable with a potential loss depending on the individuals own risk / reward ratio. The next level of support will be the 20-day EMA.   

As it’s Friday and the markets are looking bearish today, I’m not anticipating initiating any new positions in the portfolio at this point, as markets are not favorable for successful swing trades. We do appreciate down days for the future set-up opportunities they provide.   

Have a great weekend!  This information is for educational purposes only and is not a recommendation to buy or sell a security.

MAKE SURE YOU CHEK OUR REAL TIME SPREAD SHEET! 

Link: http://bit.ly/3RgIVBb