Redditor bearsrbig is a new investor and asks about several names he owns. He says
“So, I’m very very new to investing and have just been playing around by buying a few stocks. I’m already working with a roth IRA and 401K, but just wanted to dip my toes in the stock market. Let me know what you think!
AMD – Paid $3.37 ATVI – Paid $17.21 BBRY – $6.10 (I know, I know… I thought “what the hell? maybe in 10 years the enterprise side of the business will regain traction. Just a long shot) DFS – Paid $52.79 V – Paid $202.90.”
AMD still has some work to do to get itself back into an uptrend. Until that happens, long is not my favorite position… Still, since you’re already there, I would use the recent swing low just above $3 as a stop.
ATVI looks like its pretty well setup to make a run higher potentially. The rising trendline makes for a good support level and $16 is a good secondary support level.
BBRY has been on the outs for a while… It’s just not a name I would consider buying until it can at least break the downtrend line and sustain it. In your case, $6.10 is a pretty good entry level, especially since you intend to hold the name long term (not my favorite approach unless the position is a winner). I would use the $5.44 low as a stop and then just stalk the stock for a new long entry.
DFS is structured to the upside and looks destined to make additional highs. The rising trendline is a pretty obvious support/stop level with $50 as a secondary support level.
V looks very similar to DFS (and lots of other financial stocks). It’s dancing around resistance and looks determined to press higher. Support is the rising trendline and there is secondary support at $199.
I hope this is helpful. Be sure to continue learning. Remember, the job of a trader is not to make money, but to become a better trader… the money then follows.