The Wagner Daily – “Potential Breakout: $PGNY Pre-Earnings

The Wagner Daily – November 3, 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:

• $AMD add triggered.
• Per intraday alert, sold $CELH for a small gain.

Commentary:

The current rally remains in great shape with bullish price and volume action in most leading names.

Of the stocks on our watchlist that have struggled, most are the bigger names from 2020, such as $SE, $BILL, $CELH, $MDB, and $CRWD, as the market turns its focus to newer merchandise.

There is one new official setup on Tuesday’s watchlist in $YNDX.

$YNDX’s big volume thrust off the 50ma, followed by a tight range on lighter volume is a bullish sign. We have a buy stop in place over the swing high. Earnings are out of the way.

$PGNY has tightened up on the daily chart above the 50-day MA the past few weeks. Earnings are in the way on 11/4. For those who don’t mind taking a shot, $PGNY is buyable over the two-day high looking for the breakout to work right away to hold through earnings.

Not an official setup

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

• watching $APP $AFRM $AEHR $NET $DWAC $XPEV

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