[Platinum Watchlist] (6.2.23) 2 Stocks to keep an eye on

Good morning.  

For ON and SWKS we are waiting to get a better entry price (assuming all the indicators are still in the green) for a potential entry point. Many swing traders will place sell buys at a price below the current price in order to attain a better cost basis and improve the reward side of the trade.  

As an example, for SWKS a trader may place a buy order at 104.80 which is the purple dotted line on the chart. You can see price action went up this morning and hit its head on resistance and is now declining. The intent would be to trigger a trade and then place a sell limit back at resistance. 

Another example is with ON where price action wicked up to resistance before falling back. In this example a trader may place a buy order at 86.45 (purple line) or lower to try to gain a price cost basis advantage. 

These are just examples and don’t assume the price will not just keep trending down to support with is possible. In this case you would want to set sell limits around support to limit any potential losses.  

In the case price action doesn’t trigger a buy and continues up, then we will wait for another opportunity.  

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