[Platinum Trading] Stocks we are watching today for swings!

Today, we are looking at the food & beverage industry for possible swing trading set-ups:   

First is Kellog (K): We have a full candle close above the 9 day SMA yesterday and price action is above the 200 day SMA. We also see a positive crossover of the SS and a rising RSI. Be aware of the resistance line at 72.74 which could limit upside price action. Look for more positive strength in the RSI moving past 50 this morning.  

Campbells Soup is next (CPB): Again, we see a full candle close above the 9 day SMA and price action above the 200 day SMA. We also have a positive crossover of the MACD and SS with positive momentum indicated with the RSI. Be aware of the resistance level at 48.62, which could limit the upside for price action.  

Lastly, as seen in the S&P 500 daily chart, we are still trending down and price action is below the 200 day SMA which is bearish. Current price action is below the 9 Day SMA and we have a negative cross on the SS and a flat MACD. 

The markets are still bearish and our price action has largely been determined by headlines about what the FED may or may not do. It’s a tough environment, even for swing trading, so don’t be afraid to keep you powder dry and wait for better set-ups.   

This information is being provided for educational purposes and is not a recommendation to buy or sell a security. Have a Great Day and thanks for supporting the Platinum channel!