[Platinum Watchlist] (6.29.23) 2 stocks

Futures are up this morning after the major banks reportedly passed their “stress tests”.  Let’s take a look at the two positions in the paper trade portfolio. 

PM closed down yesterday slightly above the 200-day SMA which is our support level. The resistance level will be at 97.71, where we will see some sell orders. the 9-day SMA is still trending up and looks to be showing a positive cross over of the 200. This position is currently providing the paper trade portfolio with a $0.57 / share unrealized loss as of yesterday’s close. 

ABT closed down yesterday with a short trading range above the support level at the 50-day SMA. The up trending 9-day SMA is about to show a positive crossover of the 50. This position is currently providing the paper trade portfolio with a $1.72 / share unrealized gain as of yesterday’s close. 

Utilize support and resistance in your trading game plan to increase the probability of a successful trade. 

This information is for educational purposes and not a recommendation to buy or sell a stock.