[Platinum Sell Alert] (6.1.23) 2 Stock sells with +$500 profits

PAPER TRADE ONLY  

Sell AMZN = $122.88 

Price action hit the resistance level at 122.88 and triggered a sell limit giving the portfolio a 2.31% gain or $2.77 / share profit. Another method for traders would be to sell 1/2 of the position for a gain while maintaining a 1/2 position at the cost basis in hopes of squeezing out more gains. Due to current market conditions and my personal risk tolerance, my choice is to take the gains all at once.  

Sell COF – 107.77

Price action hit the resistance level at 106.87 and triggered a sell limit order giving the portfolio a 2.55% gain or $2.66 / share profit. As with AMZN, all the indicators remain positive so another method for traders would be to sell 1/2 of the position for a gain while maintaining a 1/2 position at the cost basis in hopes of squeezing out more gains. Due to current market conditions and my personal risk tolerance, my choice is to take the gains all at once.  

Swing traders often use resistance levels as potential places to set sell stop limit orders because resistance levels have historically demonstrated a higher probability of price reversals or temporary price pullbacks. A resistance level is a price level where selling pressure has historically outweighed buying pressure, causing the price to struggle to break through and continue rising. 

When the price approaches a resistance level, swing traders anticipate that it may encounter selling pressure again, leading to a potential reversal or pullback in price.  

You can check out the AMZN and COF charts on the Platinum Watchlist channel.  

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