Amazon (AMZN): Profit-Taking

Amazon (AMZN) surprised to the upside and gave excellent forward guidance when it reported earnings Thursday night causing the stock to pop and hit my next sell target on Friday morning.

My order sold 24.32% of the position and filled at $141.00, locking in +64.01% in gains on shares bought for $85.97 on November 9, 2022 and lowering the per-share cost -26.87% from $67.00 to $49.00.

From here, my next sell target is $167.26, right around Amazon’s next point of resistance and my next buy target is $88.61, a bit above AMZN’s low in March.

AMZN closed the week at $139.57, down -1.01% from where I took profits Friday.

JP Morgan Chase (JPM): Dividend Reinvestment

JP Morgan Chase (JPM) paid out its quarterly dividend, which after reinvestment Monday evening, lowered my per-share cost -0.74% from $50.10 to $49.73.

Despite being an excellent long-term investment for the portfolio, JPM remains overweight in the Financial Basket, so my next buying price target isn’t until it tests its 2022 lows down at $101.92.

Additionally, as it is overweight, I will take more profits if JP Morgan makes a run at its next higher level of resistance with a sell target at $167.04.

SoFi Technologies (SOFI): Profit-Taking

SoFi Technologies (SOFI) rocketed higher after blowing away analyst expectations by posting a gain thanks to surprising revenue generation when the street was expecting a loss. The stock popped nearly 20% on Monday and triggered my next sell target which filled at $11.29.

The sale took profits on 4.00% of the position, locking in +135.21% in gains selling some of the shares I bought when I initially opened the position for $4.80 way back on November 22, 2022 and lowered my per-share cost -7.32% from $4.10 to $3.80.

From here, my next sell target is $13.00, right around SoFi’s next key point of resistance, and my next buy target is $4.65, quite a bit above the low SoFi saw in May.

SOFI closed the week at $9.50, down -15.85% from where I took profits Monday.