The Wagner Daily – June 23, 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.
- $KRNT first buy stop triggered.
Growth stocks continue to lead the market higher with $FFTY and $IWP outperforming the S&P 500.
The model portfolio is in pretty good shape as we look for new positions to follow through to the upside during the next few weeks.
The first buy entry in $KRNT triggered on Tuesday above the high of the prior day’s reversal candle and there is an open order for the add. The two buy stops in $CDNA have yet to trigger and are still open.
There are two new setups for Wednesday’s session. The first is an add in $CRWD on a pullback to the breakout pivot. This is a buy limit order, so the price will have to pull back to the limit price in order to trigger an entry.
The second setup is a breakout entry in $FRHC which has been trading in a tight range the past few days above the rising 10-day EMA. The IBD ratings are solid with a 94 Relative strength rating and a Composite rating of 99. The Accumulation/Distribution is an A along with a solid 1.4 up/down volume ratio.
The quarterly earnings and sales growth are explosive.
Unofficial Setups – For experienced traders only, no guidance is given for these setups.
- $SNAP – buy at 64.73 and 64.78
- $FUTU – buy over Tuesday’s high, or buy pullback if opens slightly lower with a stop below the 2-day low
- $LMND – buy over 104.60
- $POSH – buy over 46.70
Also watching $WKHS $STEM $EOSE $GDRX over prior day’s high
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