[Platinum Watchlist] (7.2023) 4 stocks

Good morning. 

The paper trade portfolio currently holds three positions which is a manageable number of stocks for beginning swing traders. 

NSC continues its methodical price action uptrend between support at the 9-day SMA and the upper Bollinger Band. Sell orders are expected around 241.26. The 9-day SMA has just crossed over the cost basis, meaning support is now above the price the stock was added to the list. TO avoid a potential loss, sell limits could be placed above the cost basis realizing you might get stopped out with price action volatility. This position is currently providing the paper trade portfolio with a $5.39 / share unrealized gain as of yesterday’s close. 

As stated yesterday, a position in PKG could be re-entered if price action dipped and gave us a better cost basis which it did. Support is found at the 9-day SMA with resistance at 137.38. All the oscillators are in the green and price action is above all the critical SMAs. Preserve your gains with sell limits. This position is currently providing the paper trade portfolio with a $1.42 / share unrealized gain as of yesterday’s close. 

MU was previously listed on the Horizons list . Support is found at the 20-day EMA with resistance at the 50-day SMA. The RSI is just above the 50 level so watch for more strength. This position is currently providing the paper trade portfolio with a $0.88 / share unrealized gain as of yesterday’s close. 

BAX moved over from the Horizons list with a second day close above the 200-day SMA which will provide a level of support. There will be some sell pressure at 48.62, which would be a likely place to take some gains.  

Prior to entering a position, always weigh the upside vs. the downside price action risk to assure your cost basis provides you with the best risk / reward potential. 

Have a great day!