The Wagner Daily – Potential Play: $HRMY on Strength or Weakness

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The Wagner Daily – December 2, 2022

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  (from 10/21/22 follow-through day buy signal)

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:

 

position notes:

• Stopped out of $ARRY. Re-entered per intraday alert, and added per the buy stop (5% total position – half size..10% is full).

Commentary: 

Broad market averages are digesting Wednesday’s strong advance with some chop, which is to be expected.

The S&P Midcap 400 is the leading index, as it’s the only major index above its downtrend line and 200-day MA.  The Nasdaq 100 is below its downtrend line and the 200-day MA.  

There are two official setups for Friday. 

First up is a pullback entry using a buy limit order in $MEDP in case the price pulls back into the 20-day EMA.

$ENPH continues to tighten up near the base high.  We have a buy stop to enter on a breakout above range highs.   Note the split sell stops at $312 and $302 should the setup trigger.  

$HRMY is potentially in play on strength above range highs (not including the high of the false breakout) or on weakness (pullback near rising 8ema).  This is not an official setup.

Unofficial Watchlist

• Longs – Watching $CCRN, $HRMY, $ON (little more chop before moving out) $CPRTX over 2-day high, $AXSM – tight action for aggresive traders
• Shorts – none

Rick 

Click here to view this week’s watchlist in google sheets

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