| Hi Everyone! | |||||
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| Why am I adding Dominion Energy (D) to the portfolio today? Dominion has been one of my favorite utility stocks for years ... I love Southern Co. (SO) and Dominion (D) for the dividends they pay as well as the stock trade in a pretty predictable pattern. I like buying my stocks at what I call a 'low-entry' purchase where I use a stocks trading range (using the Keltnar Channel charting) and using RSI ... 50/40 being fair value ... anything under 30 we start getting into a stock being OverSold ... these (2) indicators allow me to NOT buy FLUFF! When Apple SHOT UP to $140 after the stock split announcement I did a video and warned everyone buying AAPL at $140 (RSI 87 and trading FAR ABOVE the KC TOP line) was SO FLUFFY the stock would fall to $110 ... and guess who was right > ME < So, with Dominion trading UNDER the KC MID and its RSI being 37 ... putting skin in the game today we have LESS downside risk ... as I see its support being $75 Today the stock is down 0.87 a share ... today the traded EX-DIVDEND which is 0.90 ... so the stock is trading FLAT today after distributing its dividend to investors last night. I buy today at $77x and hold ... as I believe dividend investors bought the stock for the dividend and will sell the stock ... Dominion will trade sideways because of the more selling than buying ... and when that flushes out it'll start its trek back above $80 as it trades towards its next dividend as investor will need to own the stock to be on record to collect it ... It's a game Wall Street plays ... I catch Dominion cheaper ... and if it doesn't trade back near the recent high of $85 ... I collected a dividend ... but I DIDN'T OVERPAY. Be Safe | |||||
| As always, do your due diligence and this is not a recommendation |
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