Category: The Wagner Daily – Archives

$NTLA – look for open above Thursday’s close, then move through Thursday’s high

$DDD – over inside day high and back through close of day 1 at  34.70

$CHS – buy at 6.72 (downtrend line)

$URI cleared the highs of a 12-week long and 19% deep base. Breakout volume was 30% above average. Also, note all the volume spikes during the base.  Since $URI cleared the pivot on volume we are buying over Wednesday’s high.  

$TGH is not an official setup, but we are monitoring the action for an entry after last Friday’s heavy volume advance. Would like to see a few days of chop and possibly a touch of the 10-day EMA this week or next for a lower-risk entry.

$NVDA’s pullback is looking pretty good with the price action drifting lower on lighter volume. We are currently long $NVDA and looking to hold through earnings on 8/18.

Software stocks gapped higher but need to follow through.

$HUBS are $LSPD are buyable but not official setups.

Our $SNAP buy limit order worked out well, as the price bounced back from a weak open which is the ideal action to trigger a buy limit. When a stock opens higher and fails to follow through and then pulls back to our buy limit, that usually isn’t a positive sign in the short term.

We do not have an official buy stop entry for $SNAP over the highs, but that’s where we’d like to add if big volume comes in.

$SNAP reversed off support of the 10-day EMA, which was a positive sign. We have a buy limit order in place to enter on slight weakness such as a test of the prior day’s high or possibly the 20-ema on the hourly chart.

The $Nasdaq Composite and S&P 500 recovered from a weak morning session after finding support at/near the 20-day EMA. Both indices closed near the highs of the day with bullish reversal candles. Volume increased on both the NYSE and Nasdaq as well.

There is one new official setup for Tuesday’s session.

$NVDA has been chopping around in a tight range and is in play over Monday’s high for us with a buy stop, which would also put it above the highs of the last two weeks.

The Nasdaq Composite spent last week digesting the big reversal candle off support two weeks ago. If volatility remains high, then look for the Nasdaq to possibly test the rising 10-week moving average (a deeper pullback). If volatility dies down, then a few weeks of tight action would allow the 10-week moving average to catch up to price. These are just two scenarios of many that could play out.