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- Last Update: 31 August 2021, 9:34
Categories:Market Breadth Analysis
Random stock pick test with 3 companies that start with Mc: McDonalds, McKesson, McCormick
Purchased 1 - 3 shares on 8/17/2021 at closing prices. Stop limit orders set at about 5-6% based on recent support levels:
MCK $203.12 - stop loss @192.25 (-5.3%), just below 2 week low, which was just above 30 week-ema.
MCD $240.28 - stop loss @ 226.25 (-5.8%), just below May%27s low that hasn%27t been broken with 3 subsequent retests.
MKC $87.84 - stop loss @ 82.45 (-6.1%), just below 3 week low that stayed above March%27s bottom of $81.40
MCD and MKC have been in an uptrend for more than 6 months.
All are underperforming the SPX over the last 6 months
Since Aug 1, MKC is the only one with improving RS.
Expectations 8/17/2021 for 9/17/2021
MCK will be up, but could trigger stop loss before we to 9/17.
MCD will end up lower, but not expecting it to trigger stop loss.
MKC make end up higher, but has more resistance to get through and might take longer to make any gains.
RS - Relative Strength vs. S&P 500 ($SPX)
Chart Revision Notes:
8/23/2021 - Added lower prices showing HLC bars for each stock, with horizontal lines showing purchase and stop limit sell prices.
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