The Wagner Daily – $PCTY: Bullish Reversal and Strong Relative Strength

The Wagner Daily – September 19, 2022

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.

Just drop us a comment with any questions or comments–we’d love to hear from you!

MTG Market Timing Model –  SELL (markets back below 20 & 50-day MAs   

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:

• No trades.

Commentary:

The S&P 500 broke its uptrend line and set a lower low last Friday before bouncing into the close. While the bullish reversal does leave the door open for a possible undercut and rally scenario, it may be tough for the S&P 500 to move one way or the other prior to this Wednesday’s Fed meeting.

 $TSLA has formed a 5-week long and 15% deep basing pattern after a 50% rally off the lows.  The RS line cleared its downtrend and set a higher high.   

$PCTY closed with a bullish reversal candle after undercutting the 20-day ema and closing in the top 20% of the day’s range. The relative strength line broke out and set a new high well ahead of price. The unofficial entry is over last Friday’s high.

There are no new official setups for Monday. Stocks we are just monitoring: $EVH $ENPH $CELH $GTLB $SWAV $PCTY $TSLA $WOLF $HQY $PRVA $PI $ON $WOLF

Unofficial Setups –

• Longs – $SWAV on pullback to 10-week ma (around $265) , $PCTY over last Friday’s high
• Shorts – none

See you in the chat room,

Rick 

Start my Wagner Daily membership now to start receiving winning Morpheus stock trade signals, including a stock portfolio you can easily follow. The Wagner Daily PRO includes live swing trader room for daily, real-time trade ideas and powerful stock trading education.