The Wagner Daily – $APPS: Trade Entry Strategy

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$APPS daily

The Wagner Daily – April 7, 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):

$todays watchlist

open positions:

$open positions

closed positions:

$closed positions
  • position notes:
  • $UPST buy stop triggered.
  • Per intraday alert, bought $APPS and $FUTU. Sold $RIOT for a small loss.


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The S&P 500 and Nasdaq Composite are a bit extended in the short-term from the rising 10-day EMA and may need some time to digest recent gains. When a stock or index corrects, it can do so in one of two ways, either by price or time. If by price, then we could see a few days of lower highs and lower lows. If by time, then look for sideways to slightly lower price action that allows the 10-day EMA to catch up.

The model portfolio added three new positions in $FUTU, $APPS, and $UPST.

$UPST triggered off the official watchlist, while $FUTU and $APPS were bought with an intraday alert. For those not already long $APPS or $FUTU, set a buy stop above Tuesday’s high as an entry. $RIOT was sold for a very small loss to make room for $FUTU, as we did not want to increase our exposure to crypto-related stocks. For those who want to hold on to $RIOT(which is still looking good), a stop can be placed at 49.29.

Bought $FUTU as it took out the morning high after reversing off the 50-day MA.

$FUTU daily

Bought $APPS over the two-day high. The price failed to follow through right away, but we like the trade using the low of Monday’s reversal candle as our stop.

$APPS daily

$UPST failed to move out after triggering our buy stop but did close with a tight-ranged inside day. The hourly chart looks constructive above the rising 20-period EMA. Let’s see if the price can break through $150 and hold, which could spark the next wave up.

$UPST daily

There are no new official setups for Wednesday’s session. Let’s see how recent buys hold up before putting more money to work.

Below are a few setups that could be in play: 

$GRWG closed with a tight-ranged inside day on light volume at the 50-day MA for the third day in a row. A move through the three-day high could lead to a downtrend line break.

$GRWG daily

$RBLX is another tight-ranged inside day with the price chopping around a rising 20ema on the hourly chart. A move through the two-day high could lead to a test of the prior high. The stop is the low of the inside day, which makes this a GONG setup (Go Or No Go). Either they work or there is usually a quick stop out.

$RBLX  daily

Unofficial Setups – For experienced traders only, no guidance is given for these setups.

  • $MVIS – buy at 15.85
  • $SM – buy at 19.20Other stocks to watch: $SQ $ABNB $YALA  over swing highs, but if the market is weak these entries may struggleWatch for pullback setups in: $PINS, $LRCX, $NVDA 

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