The Wagner Daily – $ETSY: Play Potential

The Wagner Daily – April 19, 2021

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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):

open positions:

closed positions:

position notes:

• $PINS and $SNAPS protective stops triggered.

Commentary:

While the S&P 500 and Nasdaq continue to trend higher, growth remains a laggard though the daily charts have improved the last two weeks.

The model portfolio stopped out of the remaining half positions in $PINS and $SNAP last Friday and is now down to two positions in $ETSY and $RBLX.

There are no new official setups for Monday. However, we are monitoring $WSM, $VCEL, $FUTU, $CRWD, $OZON, $UBER, $SBH and $SQ for buy entries.

This is $WSM’s first test of the 20-day EMA after a big volume breakaway gap up. $WSM triggered a buy entry on Friday after clearing the high of Thursday’s reversal candle.  

$VCEL has tightened up the past few days at the rising 10-day EMA and is in play over the two-day high.

$SQ is in pullback mode and could be in play this week, especially if the price holds the 10-day EMA.

For those not already long, $ETSY is potentially in play based on last Friday’s reverrsal candle, if it can clear the high of that candle.

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

• $SBH – buy at 20.70
• $UBER buy at 61.20
• $VCEL – buy at 59.35
• $FUTU – buy at 160.00
• $CRWD – buy at 219.50

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