[Platinum Watchlist] (3.7.23) Updates on 3 stocks

Good morning.  

We exited the SKX position yesterday with a slight gain with a stop limit set above the 50-day SMA as we saw a negative crossover of the Stochastic. We are also seeing a rollover of the RSI which is just slightly above the 50 level. Price action is still above the 9-day SMA and more risk tolerance traders might still be in this trade, however I would follow the direction of the oscillators in this case.  

APD closed down .72% yesterday but price action is still well within the trading guidelines. With this position, a stop limit will be set above the cost basis to protect the gains. We have 2 days of DED testimony in front of congress which could lead to some price chop and profit taking. We are in this to book gains and prevent losses.  

BRKB gave us ascending price action above all the critical moving averages. The oscillators are all positive and showing strength. A buy limit was set above the Monday closing price which was hit at 312.55. Consider setting at least a partial lot stop order above the cost basis to defend gains in the event the FED testimony tanks the market. Where you set stop limits is a function of your level of risk tolerance.  

For more potential swing trading ideas, check out the “Horizons” stock channel as there were several positions with full candle closes above the 9-day SMA. The “horizon” stock list is a carefully curated selection of stocks that may not be immediate swing trade candidates but possess positive traits that could lead to future profitable trades.  

It’s important to exercise patience and discipline when using the horizon list, as we are waiting for the right conditions to develop before taking action.  

The ultimate swing trading objective is to generate consistent profits while managing risk through proper position sizing and risk management techniques. Have a great Day!  This information id for educational purposes and is not a recommendation to buy or sell a security.