[Platinum Sell Alert] (5.4.23) Sell Signal Triggered for 2 stocks

PAPER TRADE ONLY  

Sell HON – $198.75 

A sell limit order was placed above the resistance level and price action wicked up and triggered the order. The portfolio took a 0.55% loss on this position or $109 for a 100-share trade.   

Sell SJM – $157.30 

Set a sell limit based on gaining .5% on the position which put a sell limit at 157.30 which was triggered in opening market volatility. THis provided the portfolio with a .51% gain or $80 for a 100-share trade.  

We have been discussing range bound markets this week. There is a need to tighten up your stops to where we may experience lower percentage gains and lower percentage potential losses. 

It’s important in this type of market conditions to pay close attention to support and resistance levels and utilize them more aggressively within your trading plan. In four days of trading this month, the portfolio still has a gain of $125 in a very difficult trading market.   

As the song goes: “You gotta know when to hold-em, and know when to fold-em”. 

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