The Wagner Daily – June 30, 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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MTG Market Timing Model – buy mode due to strength in Nasdaq Composite (still above 20ema)
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:
- Per intraday alert, canceled the $STEM setup.
The Nasdaq Composite and $IWP continue to trend higher above a rising 10-day EMA. Not much to report here.
Per intraday alert, we canceled the $STEM setup due to the 5% or so gap up on the open. If already long, then continue to hold with a stop below the rising 10-day EMA.
There are two new official setups for Wednesday.
The first is a downtrend line break in $BNTX, which is an explosive mover that could be ready for another wave up if it can clear the tow-day high.
The other setup is a breakout entry in $TIGR, which is an explosive Chinese brokerage stock with five quarters in a row of +100% sales growth. $TIGR just set a new all-time high in 2021 after clearing the prior high around $25 that was set a few months after it IPOd in 2019.
Note the impressive price and volume action as the stock cleared the downtrend line and reclaimed the 50-day MA. After a few weeks of rest, $TIGR may be ready to run again.
The buy stop is over the current range high with a stop beneath the 6/29 low.
$SHOP is looking pretty good after reversing off the 10-day EMA last Friday. The model portfolio is already long a full position in $SHOP but a break of the short-term downtrend line and Tuesday’s high could serve as an entry for those not already long with a stop beneath the 6/25 low.
As discussed in Tuesday’s report, $SE found support between the 10 and 20-day EMAs and reversed higher. $CRWD is also in pretty good shape with the rising 10-day EMA just below.
Unofficial Setups – For experienced traders only, no guidance is given for these setups.
- $SE – buy at 288.00
- $SNAP – buy at 68.27
- $BYND – buy at 159.00
- $FRHC – buy at 64.43
- $HYRE- buy at 21.32
Others to watch on strength – $UPST $PATH $PCOR $OSTK $U $XPEV $TXG (if it stays above Tuesday’s close after squat)
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