The Wagner Daily – Breakaway Gap Strategy for Traders

The Wagner Daily – November 17, 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  

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:

• $ABNB 4% buy stop triggered. $RBLX 3% buy limit triggered.

Commentary:

Money continued to flow into growth on Tuesday, with at least 30 stocks on our internal watchlist up 4% or more. Growth ETF $IWP outperformed $SPY and $QQQ with a +1.1% gain.

Per last night’s report, the first $ABNB buy stop triggered, as did the $RBLX buy limit at $105.

There is one new official setup added to Wednesday’s watchlist.

Adding to $S over Tuesday’s inside day, as the price closed back above the base high after a one day shakeout. The stop is about 6% away, just beneath Monday’s low.

In last night’s report, we discussed a potential breakaway gap-up scenario in $ONON.

$ONON gapped and ran 25% on 5x average volume.

For those who are watching the open, breakaway gap ups on volume are in play over the 1 or 5-minute high if volume is strong on the open. Not all big gap ups are in play. We prefer to focus on higher-quality names that have big earnings or sales growth. The gap should either be to or near a 52-week high, or one that reclaims the 50-day MA off the lows of a base.

$ONON triggered an entry over the 5-minute high Tuesday.  Have to be quick with these entries.  

$SEDG potentially in play on strength over the two-day high or on weakness around the 10-day EMA. $SEDG is part of a strong group move with $ENPH leading.

Not an official setup

$LC has struggled as of late but may soon find a bottom with the 20-day EMA catching up to the price.

Not an official setup

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

• watching DDOG $ANET $SEDG $SI $HUT $LC $AFRM $COIN $BROS $APP

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