{"id":16268,"date":"2022-10-18T06:48:00","date_gmt":"2022-10-18T10:48:00","guid":{"rendered":"https:\/\/morpheustrading.com\/blog\/?p=16268"},"modified":"2023-02-06T02:05:58","modified_gmt":"2023-02-06T07:05:58","slug":"swing-trading-stocks-10182022","status":"publish","type":"post","link":"https:\/\/morpheustrading.com\/blog\/swing-trading-stocks-10182022\/","title":{"rendered":"The Wagner Daily &#8211; $FOUR Stock Consolidation Play Above Trend Line"},"content":{"rendered":"\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"717\" height=\"469\" src=\"https:\/\/new.morpheustrading.com\/blog\/wp-content\/uploads\/2023\/02\/image-717x469.png\" alt=\"\" class=\"wp-image-16272\" title=\"\" srcset=\"https:\/\/morpheustrading.com\/blog\/wp-content\/uploads\/2023\/02\/image-717x469.png 717w, https:\/\/morpheustrading.com\/blog\/wp-content\/uploads\/2023\/02\/image-110x72.png 110w, https:\/\/morpheustrading.com\/blog\/wp-content\/uploads\/2023\/02\/image-768x502.png 768w\" sizes=\"auto, (max-width: 717px) 100vw, 717px\" \/><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\">The Wagner Daily &#8211; October 18, 2022<\/h2>\n\n\n\n<p><em>Below is the full, archived issue of The Wagner Daily swing trading report (sent to members the night before the publication date).<\/em><\/p>\n\n\n\n<p><em><strong><a href=\"https:\/\/morpheustrading.com\/services\/swing-trade-alerts\" target=\"_blank\" rel=\"noreferrer noopener\">Subscribe now<\/a><\/strong> for your access to the best stocks for swing trading, proven Morpheus stock trading strategy, and market timing model with a 20-year track record. <\/em><\/p>\n\n\n\n<p><em>Just drop us a comment with any questions or comments&#8211;we&#8217;d love to hear from you!<\/em><\/p>\n\n\n\n<hr class=\"wp-block-separator has-css-opacity\"\/>\n\n\n\n<p><a><strong><em>MTG Market Timing Model &#8211;&nbsp; SELL&nbsp;&nbsp;<\/em><\/strong><\/a><\/p>\n\n\n\n<p>Our timing model was designed to keep our trades in line with the prevailing market trend, not to call tops or catch bottoms in S&amp;P 500 or Nasdaq Composite.<\/p>\n\n\n\n<p><a><strong><em>today&#8217;s watchlist along with open and closed positions:<\/em><\/strong><\/a><\/p>\n\n\n\n<p><img decoding=\"async\" alt=\"$todays watchlist\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/221018list.png\" title=\"\">&nbsp;<br \/><br \/><a><strong><em>position notes:<\/em><\/strong><\/a><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Note the new buy stop for a 1\/3 position in $RBLX<\/li>\n<\/ul>\n\n\n\n<p><strong><em><strong><em><strong><em><a><strong><em>Commentary:<\/em><\/strong><\/a><\/em><\/strong><\/em><\/strong><\/em><\/strong><\/p>\n\n\n\n<p>The Nasdaq Composite recovered from a disappointing close last Friday and regained the prior major swing low (around 10,600) on day 3 of a new rally attempt. The earliest we can see a follow-through day (a 1.5% or more gain in a major index) is Tuesday, day 4 of the rally.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/221018IXIC.png\" alt=\"$NASDAQ COMP \" title=\"\"><\/figure>\n\n\n\n<p>Since we have the potential for a follow-through day buy signal on Tuesday, let&#8217;s run through a few leading stocks that we are monitoring for an entry.<\/p>\n\n\n\n<p>$RBLX gapped up in reaction to news and reclaimed the 50-day MA on big volume (3x greater than average).<\/p>\n\n\n\n<p>The big volume gap up from a valid basing pattern is a bullish sign for the next few weeks. Some would think that the 20% move is too much in the short-term, but if conditions are improving, $RBLX could push much higher.<\/p>\n\n\n\n<p>With the potential for a follow-through day, we are buying a 1\/3 position in $RBLX over the gap-up day high with an 8% stop. We would also use a buy-stop limit of $44.20 to guard against a bad fill if there is a significant gap up. This is an official setup.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/221018RBLX.png\" alt=\"$RBLX daily \" title=\"\"><\/figure>\n\n\n\n<p>$FOUR is in consolidation mode and could be in play over the $47-48 area, which would put the price above the downtrend line and 50-200 MAs.&nbsp;&nbsp;&nbsp;No entry yet.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/221018FOUR.png\" alt=\"$FOUR daily \" title=\"\"><\/figure>\n\n\n\n<p>$SWAV is still on our watchlists as its currently in a 21% deep base with a relative strength line that could set a new high ahead of price (the RS line is the light green line below price).<\/p>\n\n\n\n<p>A break of the 50-day MA and downtrend line would be a buy signal. No entry for now.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/2210188SWAV.png\" alt=\"$SWAV daily \" title=\"\"><\/figure>\n\n\n\n<p>Other stocks to watch: $ELF $HQY $SG $CELH<\/p>\n\n\n\n<p><strong>Unofficial Setups<\/strong>&nbsp;&#8211;<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Longs &#8211; none (but watching several stocks for potential entry points this week)<\/li>\n\n\n\n<li>Shorts &#8211; none<\/li>\n<\/ul>\n\n\n\n<p>See you in the chatroom,<\/p>\n\n\n\n<p>Rick&nbsp;<\/p>\n\n\n\n\n\n\n\n\n\n\n\n<p class=\"has-light-green-cyan-background-color has-background\"><em><strong><a href=\"https:\/\/morpheustrading.com\/services\/swing-trade-alerts\" target=\"_blank\" rel=\"noreferrer noopener\">Start my Wagner Daily membership now<\/a><\/strong> to start receiving winning Morpheus stock trade signals, including a stock portfolio you can easily follow. <strong><a href=\"https:\/\/morpheustrading.com\/services\/swing-trade-alerts\" target=\"_blank\" rel=\"noreferrer noopener\">The Wagner Daily PRO<\/a> <\/strong>includes <strong>live swing trader room<\/strong> for daily, real-time trade ideas and powerful stock trading education. <\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>$FOUR is in consolidation mode and could be in play over the $47-48 area, which would put the price above the downtrend line and 50-200 MAs.\u00a0\u00a0\u00a0<\/p>\n","protected":false},"author":2,"featured_media":12060,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_links_to":"","_links_to_target":""},"categories":[782],"tags":[],"class_list":["post-16268","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-wagner-daily-archives"],"_links":{"self":[{"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/posts\/16268","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/comments?post=16268"}],"version-history":[{"count":1,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/posts\/16268\/revisions"}],"predecessor-version":[{"id":16274,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/posts\/16268\/revisions\/16274"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/media\/12060"}],"wp:attachment":[{"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/media?parent=16268"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/categories?post=16268"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/tags?post=16268"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}