This article is for education purposes only, and not to be taken as advice to buy/sell. Please do your own due diligence before committing to any trade/investment.

Red, red, and more red.

The stock market for the past 2 weeks has been a complete opposite to the period prior.

Regardless of the market condition, position trading opportunities will still be present and I’ve picked 2 of them for you.

Before you jump ahead, are your curious to know how the stock picks for June 2023, Interpublic and Workday, performed?

There were entries on both counters and the trades are profitable.

Now, it’s time to take out your notepad and jot down these 2 stock picks selected for you.

Illumina (NASDAQ: ILMN)

Source: illumina.com

1. About the Company

Illumina was founded 25 years ago, in 1998.

As a life science company, Illumina operates in the healthcare sector providing sequencing and array-based instruments and consumables.

Illumina has customers all over the world and continues pushing boundaries.

While these sound exciting, is the market excited about its prospect?

Let’s find out by looking at its price chart.

2. Position Trading (Daily)

The price chart of Illumina doesn’t look optimistic.

This can be inferred from the appearance of a red arrow above its latest candle.

The red arrow suggests that a new drop is happening, and you’ll want to look for shorting opportunities.

With that in mind, you’ll want the bar of its Trend Impulse Factor indicator to be dark green in color to increase your chances of success.

Why?

A dark green bar of the Trend Impulse Factor indicator suggests that the bearish momentum could be long lasting, making it worthwhile for a short position trade.

Therefore, it’s not time to short the shares of Illumina just yet.

But, I think that the time could come soon, so please keep a close watch on this stock.

Goldman Sachs (NYSE: GS)

Source: goldmansachs.com

1. About the Company

Goldman Sachs is a 154 year old financial institution, and provides a wide range of services to other financial institutions, companies, governments, and individuals.

It has also survived many major economic storms, including the Great Depression, Great Financial Crisis, and the latest banking crisis.

How has its shares been performing?

Is there a position trading opportunity that you can seize?

2. Position Trading (Daily)

Looking at the chart of Goldman Sachs, you can tell that its share price has been declining since Nov 2022.

Because of this, you’ll want to be on the lookout for a short position trading

How can you tell if the shares of Goldman Sachs are ready for a short position trade?

The appearance of a red arrow on its latest candle and its Trend Impulse Factor indicator turning dark green in color.

Let’s have a look at the chart of Goldman Sachs above again.

It’s time to short its shares!

Conclusion

Source: illumina.com/science/customer-stories/icommunity-customer-interviews-case-studies/petrosino-diversigen-microbiome.html

Both the shares of Illumina and Goldman Sachs have been performing poorly. Therefore, you should be looking for shorting opportunities.

While the timing isn’t ripe for the shares of Illumina, the shares of Goldman Sachs look ready!

Given the more volatile environment we are in, it's a great idea to place a stop loss level to protect your trading capital. There's no need to hold onto a losing stock as there are many position trading opportunities available!

Trading stocks without a proper system can be highly risky. This is why TGPS was created. The indicators will help you determine if a stock is ready for action to be taken. You won't have to feel in the dark and make wild guesses.

What are your thoughts?

Share your thoughts with us below!

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