[Platinum Watchlist] (5.5.23) 3 Stocks

Good morning.  

Markets were down yesterday and triggered some sell order for the portfolio.  

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 S

et 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.  

INVH: The paper trade portfolio maintains a full position in this stock as of close yesterday. Support is at the 200-day SMA with resistance at 33.79. There is a slight rollover of the Stochastic. The resistance level has fallen from 34.19 to just 33.79, which is slightly above the cost basis of 33.65. 

This provides us with very little upside potential. Sell limits will be set between resistance and 34. with stops below the 200 to try to take advantage of early market price action exit this trade with a slight gain prior to the weekend.  

The first week of May provided quite a challenge, however even with declining markets, the portfolio still managed a gain for the week. There are no new set-ups today, so we will manage our last position and see what next week brings.  

Have a great weekend! Thanks for being a member of the Platinum Channel.  

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