{"id":17764,"date":"2021-12-08T06:48:00","date_gmt":"2021-12-08T11:48:00","guid":{"rendered":"https:\/\/morpheustrading.com\/blog\/?p=17764"},"modified":"2023-02-17T04:00:56","modified_gmt":"2023-02-17T09:00:56","slug":"swing-trading-stocks-120821","status":"publish","type":"post","link":"https:\/\/morpheustrading.com\/blog\/swing-trading-stocks-120821\/","title":{"rendered":"The Wagner Daily &#8211; $TSLA Undercuts 50-day MA, Bullish Reversal Candle Formed"},"content":{"rendered":"\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"http:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/211208TSLA1.png\" alt=\"tsla daily\" title=\"\"><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\">The Wagner Daily &#8211; December 8, 2021<\/h2>\n\n\n\n<p><em>Below is the full, archived issue of The Wagner Daily swing trading report (sent to members the night before the publication date).<\/em><\/p>\n\n\n\n<p><em><strong><a href=\"https:\/\/morpheustrading.com\/services\/swing-trade-alerts\" target=\"_blank\" rel=\"noreferrer noopener\">Subscribe now<\/a><\/strong> for your access to the best stocks for swing trading, proven Morpheus stock trading strategy, and market timing model with a 20-year track record. <\/em><\/p>\n\n\n\n<p><em>Just drop us a comment with any questions or comments&#8211;we&#8217;d love to hear from you!<\/em><\/p>\n\n\n\n<hr class=\"wp-block-separator has-css-opacity\"\/>\n\n\n\n<p><a><strong><em>MTG Market Timing Model &#8211; SELL&nbsp; (could be back in buy mode very soon)<\/em><\/strong><\/a><\/p>\n\n\n\n<p>Our timing model was designed to keep our trades in line with the prevailing market trend, not to call tops or catch bottoms in S&amp;P 500 or Nasdaq Composite.<\/p>\n\n\n\n<p><a><strong><em>today&#8217;s watchlist (potential trade entries):<\/em><\/strong><\/a><\/p>\n\n\n\n<p><img decoding=\"async\" alt=\"$todays watchlist\" src=\"http:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/211208watch.png\" title=\"\"><br \/><br \/><a><strong><em>open positions:<\/em><\/strong><\/a><\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"http:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/211208open.png\" alt=\"$open positions\" title=\"\"><\/figure>\n\n\n\n<p><strong><em>closed positions:<\/em><\/strong><\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"http:\/\/www.morpheustrading.com\/~rick\/\/charts\/2020\/closed.png\" alt=\"$closed positions\" title=\"\"><\/figure>\n\n\n\n<p><strong>po<\/strong><strong>sition notes:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Per intraday alert, bought $NVDA.<\/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>Stocks gapped significantly higher on Tuesday and held, with the S&amp;P 500, Nasdaq Composite, and Nasdaq 100 reclaiming the 20-day EMA on the daily chart. Midcap Growth ETF $IWP gained 3% but is still well below the 20 and 50-day MAs (lagging).<\/p>\n\n\n\n<p>Total volume was lighter on the NYSE and Nasdaq, but the price and volume action in leadership was overall bullish. Our timing model remains on a sell, but if the Nasdaq Composite can hold up for a day or two without giving back much of Tuesday&#8217;s advance the model could shift into buy mode, especially if we see strength out of leading stocks.&nbsp;&nbsp;That being said, the model does not have to&nbsp;be in buy mode to add exposure, which is why we bought $NVDA on Tuesday and have a buy limit order out there to enter $TSLA. Both of these stocks are clear liquid leaders, which is why they are at the top of our shopping list.<\/p>\n\n\n\n<p>Per intraday alert, bought $NVDA as it gapped higher from Monday&#8217;s bullish reversal candle. The one day shakeout and recovery back above the 20-day EMA is a bullish sign.<\/p>\n\n\n\n<p>We will look to add to the position at higher prices as long as market conditions continue to improve.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"http:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/211208NVDA.png\" alt=\"NVDA daily\" title=\"\"><\/figure>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"http:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/211208NVDA2.png\" alt=\"NVDA weekly\" title=\"\"><\/figure>\n\n\n\n<p>There is one new official setup on today&#8217;s watchlist in $TSLA, which undercut the 50-day MA and prior low on Monday and formed a bullish reversal candle. Tuesday&#8217;s action held above the high of Monday&#8217;s reversal candle, a positive sign. We have a buy limit order in $TSLA at 1,045 with a protective stop below the 50-day MA and just below the 61.8% fib level of Monday&#8217;s reversal candle.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"http:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/211208TSLA1.png\" alt=\"tsla daily\" title=\"\"><\/figure>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"http:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/211208TSLA2.png\" alt=\"tsla weekly\" title=\"\"><\/figure>\n\n\n\n<p>There are a handful of stocks we are watching for entries depending on how the market holds up this week.<\/p>\n\n\n\n<p>A few are: $ZIM $AMBA $APP $RBLX $HAYW $SLAB $SNOW<\/p>\n\n\n\n<p><strong>Unofficial Setups<\/strong> &#8211; For experienced traders only, no guidance is given for these setups.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>RBLX &#8211;\u00a0 buy around 115-116 area with a stop below the 20-day EMA minus a few points at 107<\/li>\n<\/ul>\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>There is one new official setup on today&#8217;s watchlist in $TSLA, which undercut the 50-day MA and prior low on Monday and formed a bullish reversal candle. Tuesday&#8217;s action held above the high of Monday&#8217;s reversal candle, a positive sign. We have a buy limit order in $TSLA at 1,045 with a protective stop below the 50-day MA and just below the 61.8% fib level of Monday&#8217;s reversal candle.<\/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-17764","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\/17764","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=17764"}],"version-history":[{"count":1,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/posts\/17764\/revisions"}],"predecessor-version":[{"id":17792,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/posts\/17764\/revisions\/17792"}],"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=17764"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/categories?post=17764"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/tags?post=17764"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}