The Wagner Daily – April 6, 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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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.
- $WSM and $MARA buy stops triggered.
- Per intraday alert, sold half of $DEN for a 10% gain. Will hold the rest for a break of the 10-day EMA.
$MARA and $WSM were added to the model portfolio on Monday. $MARA broke out from its base and followed through with a solid 15% advance on higher volume. $WSM stalled but could retake the high within the next day or two.
There is one new official setup for Tuesday in $UPST.
$UPST is a recent IPO from last December. It has great liquidity at $150 with an average trading volume of 2.4 million shares a day. The RS rating from IBD is 98. It lacks consistent quarterly earnings growth but its 2022 yearly eps estimate is +77%.
The chart is in a two-week consolidation after an explosive move through $100. We missed last week’s entry over the two-day high, but Monday’s pullback creates a new buy entry over the hourly downtrend line and Monday afternoon’s chop at $144.
$MARA is the clear-cut leader so far in crypto-related names, but $RIOT, $SI, and $FUTU are in pretty good shape. $FUTU can be bought over Monday’s high. This is not an official setup.
$CLF failed to follow through but we will continue to monitor for an entry. The same goes for $X.
Unofficial Setups – For experienced traders only, no guidance is given for these setups.
- $MU- buy at 94.80
- $FUTU – bu at 149.00 and 154.00
- $SBH – buy at 20.56
- $TMST – buy at 12.11
- $SEAS – buy at 53.20 (retake breakout pivot)
- $IRBT – buy at 125.80
- $MVIS – buy at 16.45
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