Category: The Wagner Daily – Archives

$TSLA closed with a bullish outside day and reclaimed the 20-day ema. The recent pullback looks to be forming the handle portion of a 42% deep cup with handle pattern.

The buy stop entry is over Wednesday’s high with a protective stop beneath the three-day low.

The S&P 500 joined the Nasdaq Composite below the 50-day MA this week which puts the timing model back in sell mode. 

For the model to return to buy mode either the S&P or Nasdaq must close back above the 20-day EMA. 

The S&P 500 joined the Nasdaq at falling below its 50-day moving average.

Our game plan is to sit tight and manage existing positions.

Commodity-based stocks continue to lead while tech struggles.

Oil, coal, gold, and agriculture closed out last week’s trading with bullish action.

$CF is one of the strongest stocks in the market and part of a top 10 industry group. 

Thursday’s inside day creates an entry over the high of the day.

week.

The high of Wednesday’s inside day is the buy entry plus a few cents. Our target is around the $12-12.50 area.

$DFS is forming a ledge, which is what we call basing action in a downtrend when the moving averages are stacked to the downside (20<50<200).

The highs of the ledge stalled just below the declining 50-day MA and is now in chop mode setting lowers highs.

This is not our usual CANSLIM-based setup in a growth stock. This is a swing trade in $RIOT for a quick pop in a stock that is moving off the lows.  

The entry is based on Monday’s tight-ranged inside day just below the 8-day ema. The buy stop is over Monday’s high. $MARA , as stock in the same group has a similar look.

Stocks bounced back late Friday afternoon leading to decent reversal action on the daily charts of most broad-based indexes.

The Nasdaq 100 and S&P 500 closed in the upper half of the day’s range and held on to the 8-day ema.

$SEDG is not an official setup, but has held up well the past few days at the 20-day EMA after a second false breakout.

A move through Thursday’s high is the next entry point. Not an official setup.