The Wagner Daily – Bullish play on $CFLT above Wed’s high

The Wagner Daily – October 21, 2021

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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 (potential trade entries):

open positions:

closed positions:

position notes:

• Note the new stops above

Commentary:

The Nasdaq Composite stalled above the prior day’s high and reversed lower, but the selling was light with the price closing just below break-even. We did notice some selling in leading growth names, so let’s see if these stocks can bounce back within the next day or two.

There are two new buy orders on today’s watchlist in $CRWD and $ASAN.

The new $CRWD buy stop is for a small add approx. 2% above our first entry.

The buy stop in $ASAN is also a small add over the two-day high.

The setups below are not official.

$CFLT closed with a bullish reversal candle and could be in play for a starter position above Wednesday’s high. This is not an official setup.

$MNDY is chopping around in a tight range above the 50-day MA with all moving averages pointing higher. A buy stop can be placed at 376.11. Earnings are 11/16 (not verified).

This is not an official setup.

Note the new stops in the open positions section above.

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

• $AMBA – buy at 174.60 breakout
• $ABNB – buy at 173.00 vcp
• $CFLT – buy at 67.42 reversal candle
• $CELH – buy at 97.96 breakout from tight consolidation

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