The Wagner Daily – April 27, 2021
Below is the full, archived issue of The Wagner Daily swing trading report (sent to members the night before the publication date).
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S&P 500 buy, Nasdaq Composite buy
Our timing model was designed to keep our trades in line with the prevailing market trend, not to call tops or catch bottoms in S&P 500 or Nasdaq Composite.
today’s watchlist (potential trade entries):
closed positions:
position notes:
- Notrades triggered.
In last night’s report, we discussed the improved price and volume action in growth stocks late last week, which was followed by more strength on Monday, a positive sign.
No trades setups triggered on Monday, but there are several new setups on Tuesday’s watchlist.
Per intraday alert last Friday, we purchased a 5% position in $AMAT that was accidentally not listed in Monday’s open positions section. We plan to add to that position above $138.
$AMAT cleared the highs of the past few days and has formed a tight trading range above the 20-ema on the 15-minute chart.
Monday’s close in $CRWD was the first above $224 after three failed attempts. Volume picked up, so let’s see if there is any follow-through the rest of the week. We have a buy stop to add to our position over the two-day high with a stop below the rising 8-day EMA.
$CPE broke out from a base in February and rallied over 130% in under two months. Since then it has formed a tight trading range while allowing the 50-day MA to catch up.
We like the two reversal candles off the 50-day MA last week and Monday’s close above the 8 and 20-day EMAs on a pick-up in volume. We are looking to enter on slight weakness near $35.50.
The price action should hold the 50-day MA from here on out. Note that we have two stops.
We raised the stop in $IR to just below break-even for a very small loss due to the lack of a profit buffer heading into earnings after the close on 4/28.
Unofficial Setups – For experienced traders only, no guidance is given for these setups.
- $SHLS – buy at 35.30 (downtrend line break)
- Waiting for a pause or pullback in: $CELH $FCX $SE $CVNA $NTLA
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