[Platinum Watchlist] (1.27.23) 2 stocks for Swings

Good morning!

Markets are mixed this morning after the release of the PCE report.

LMT continued its upward trend yesterday closing above the 200, 9 and 20-day SMAs. There was a slight positive crossover of the MACD along with the SS. The RSI is trending up but is still below 50. As always, protect any gains with stop limits.

TDY opened way above the previous day’s closing price and then closed down for the day. The first 30 minutes of trading is always chaotic with potential wild swings as traders work through their book which is why its preferable not to trade during this timeframe. There is still a wide gap below the current price which has a potential to be filled. Although the indicators are positive for TDY, the issues is the low trading volume.

This affects the liquidity of the market and can cause wide spreads between the bid and ask. This stock is not for the faint of heart.

It’s Friday and I’m in no hurry to paper trade enter a position prior to the weekend. Today is a good day to manage portfolio risk and look for next week’s set-ups.   Have a great day!  This information is for educational purposes only and is not a recommendation to buy or sell a security.