I did this last weekend, I like it because it makes me stay in focus in the market and keeps me from falling in love with my positions. I want positions that work for me and not positions that I HOPE will work for me. First is the S&P 500 in an uptrend or downtrend? Uptrend.
F- I just bought F Friday so the answer is obvious here, but here it is. Wednesday, F broke through it’s overhead resistance @ $14.59. She is above 30 week ma, above the 8 an 21 on the daily and still rising. RSI is above 50 but a overbought. The MACD is rising. F is part of XLY and all looks good there, so YES.
FFIV – She is above 30 week ma, and the 8 and 21 are rising without any looks of slowing. RSI is above 50 but appears to be overbought. The MACD looks strong and in an uptrend. There is no overhead here. FFIV is part of XLK and all is good here, so YES.
LVS – She is above 30 week ma and maybe to far. She is above 8 and 21 and they are still rising. She is above the self drawn trend line and it may be accelerating to fast and needs to pause. RSI is extremely overbought and the MACD appears to be still accelerating. LVS is closet to the XLY sector and all is good there. I might wait for a pullback here, but this is a really hard read for me. I would not sell my position. Maybe
PTEN – She is above 30 week ma. She is above the 8 and 21 ma, but the 8 has flatten out and stock price appears to be flagging. She had 5 days in a row recently of down trend, but the last 2 went back up. Stock price broke out above overhead 3 weeks ago at $18.67, reached a high of $20.67 and then started trailing off. RSI is above 50, but appears to be trailing off. MACD has crossed to the negative. Is part of XLE and that group is up, but PTEN is not following, so NO and if I owned it, I would make sure my trailing stops are tight.
PWE - She is above 30 week ma. She is above the 8 and 21 day ma and both are still rising. RSI is above 50 and appears to be overbought. MACD is flat, but not negative. Also pays a 4.6% dividend. PWE is part of XLE and that group is up, so YES.
SBUX - She is above 30 week ma. She is above the 8 and 21 day ma and rising. Just reported better than expected earnings this week and volume is still there. RSI is above 50 and rising, but appears to be overbought. MACD looks strong and climbing. SBUX also just broke out this week above overhead at $28.51. SBUX is part of XLY and all is good, so YES.
SCCO - She is above 30 week ma. She is above the 8 and 21 day and rising sharply. RSI and MACD both positive and rising. RSI may be overbought. Overhead is null. SCCO is part of XLB and all is good here, so YES.
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