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The Wagner Daily – $TSLA Poised for Breakout with 20-day EMA Support

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The Wagner Daily – August 19, 2021

Below is the full, archived issue of The Wagner Daily swing trading report (sent to members the night before the publication date).

Subscribe now for your access to the best stocks for swing trading, proven Morpheus stock trading strategy, and market timing model with a 20-year track record.

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MTG Market Timing Model –  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 along with open and closed positions:

Add

position notes:

  • Per intraday alert, added to $ENPH.

Commentary:

Broad market indices are trading roughly 1% lower this morning, which sets up a possible gap-down reversal on the daily chart of $QQQ. If $QQQ opens below the two-day low and reverses back through that low and holds, then that could lead to a bullish reversal. If the reversal fails to play out, then a test of the 20-day EMA is likely.

Per intraday alert yesterday, we added to $ENPH as the price reclaimed the 8-day EMA. If Wednesday’s low does not hold, then a test of the 20-day EMA is likely.

$ON cleared base highs on strong price and volume action Thursday and could be in play on a pullback to the breakout pivot (horizontal line).

$TSLA looks to be forming a handle as it moves up the right side of its base. Look for the 20-day EMA to provide support.

$CELH doubled in price off the lows and is consolidating above the 20-day EMA less than 20% off the high. The shallow retracement after a big move up is a bullish sign that should eventually lead to higher prices (if the market remains healthy).

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

  • Longs – $FLNC $CELH $PGNY $STAA $TSLA
  • Shorts –

See you in the chat room,

Rick 

These lists are a good starting point for monitoring the market’s health for those with limited time.

https://morpheustrading.com/services/swing-trade-alerts

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Rick

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