{"id":18526,"date":"2021-07-12T06:48:00","date_gmt":"2021-07-12T10:48:00","guid":{"rendered":"https:\/\/morpheustrading.com\/blog\/?p=18526"},"modified":"2023-02-22T23:51:57","modified_gmt":"2023-02-23T04:51:57","slug":"swing-trading-stocks-071221","status":"publish","type":"post","link":"https:\/\/morpheustrading.com\/blog\/swing-trading-stocks-071221\/","title":{"rendered":"The Wagner Daily &#8211; ROKU: Handle Formation &amp; Entry Point?"},"content":{"rendered":"\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/210712ROKU.png\" alt=\"$ROKU daily\" title=\"\"><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\">The Wagner Daily &#8211; July 12, 2021<\/h2>\n\n\n\n<p><em>Below is the full, archived issue of The Wagner Daily swing trading report (sent to members the night before the publication date).<\/em><\/p>\n\n\n\n<p><em><strong><a href=\"https:\/\/morpheustrading.com\/services\/swing-trade-alerts\" target=\"_blank\" rel=\"noreferrer noopener\">Subscribe now<\/a><\/strong> for your access to the best stocks for swing trading, proven Morpheus stock trading strategy, and market timing model with a 20-year track record. <\/em><\/p>\n\n\n\n<p><em>Just drop us a comment with any questions or comments&#8211;we&#8217;d love to hear from you!<\/em><\/p>\n\n\n\n<hr class=\"wp-block-separator has-css-opacity\"\/>\n\n\n\n<p><a><strong><em>MTG Market Timing Model &#8211; buy mode due to strength in Nasdaq Composite (still above 20ema)<\/em><\/strong><\/a><\/p>\n\n\n\n<p>Our timing model was designed to keep our trades in line with the prevailing market trend, not to call tops or catch bottoms in S&amp;P 500 or Nasdaq Composite.<\/p>\n\n\n\n<p><a id=\"watchlist\"><strong><em>today&#8217;s watchlist (potential trade entries):<\/em><\/strong><\/a><\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"http:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/watch.png\" alt=\"$todays watchlist\" title=\"\"><\/figure>\n\n\n\n<p><br \/><a id=\"positions\"><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\/210712open3.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>Bought $CRWD on a pullback. Per intraday alert, bought $NTRA and $SHOP.&nbsp;<\/li>\n<\/ul>\n\n\n\n<p><strong><em><strong><em><strong><em><a id=\"etf\"><strong><em>Commentary:<\/em><\/strong><\/a><\/em><\/strong><\/em><\/strong><\/em><\/strong><\/p>\n\n\n\n<p>&nbsp;The S&amp;P 500 and Nasdaq Composite closed out the week on strength after recovering from last Thursday morning&#8217;s shakeout. Big cap tech is driving both the S&amp;P 500 and Nasdaq 100 higher due to the top-heavy weighting of $AMZN, $AAPL, $MSFT, $GOOGL, and $FB. The S&amp;P 500 has set new highs while several sector ETFs have yet to recover from recent selling such as energy $XLE, transports $IYT, and financials $XLF.<\/p>\n\n\n\n<p>$QQQ has rallied into resistance of the top trendline where it struggled last week.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/210712QQQ.png\" alt=\"$QQQ daily\" title=\"\"><\/figure>\n\n\n\n<p>The focus of this report has always been on growth stocks that can move. Unfortunately, it has been a rough year for growth when compared to the S&amp;P 500 or Nasdaq. $IWP is an ETF focused on midcap growth and is a decent gauge of what our stocks are doing. Although $IWP is at highs, its relative strength line vs QQQ is near lows. The current rally hasn&#8217;t produced the explosive action in growth that we are used to. Some stocks have moved out such as $NVDA, $ASAN, and $SPT, but many more have struggled.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/210712IWP.png\" alt=\"$IWP daily\" title=\"\"><\/figure>\n\n\n\n<p>We are still in buy mode, and with several new buys last Friday the model portfolio is up to six open positions. The $CRWD buy limit order triggered last Friday along with intraday alerts in $NTRA and $SHOP.<\/p>\n\n\n\n<p>There are no new official setups for Monday but we are monitoring a few cup with handle patterns for an entry.<\/p>\n\n\n\n<p>$UPWK appears to be forming the handle portion of a cup with handle pattern. The handle is finding support at the rising 20-day EMA after a pullback on lighter than average volume. The standard buy point for this pattern is over the handle high but one can look for earlier entries such as a pullback to the rising 10 or 20-day EMA within the cup to put on a starter position. This is not an official buy setup.<\/p>\n\n\n\n<p>The IBD ratings on the chart below come from our MarketSmith platform. The lower eps of 69 is offset by the quarterly sales growth. The accumulation\/distribution rating (labeled as a\/d rating) is a B- which is fine (we prefer B or higher). The up\/down volume ratio (labeled as u\/d vol) is 1.0, which is the minimum we look for.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/210712UPWK.png\" alt=\"$UPWK daily\" title=\"\"><\/figure>\n\n\n\n<p>$ROKU is also forming a handle above the rising 20-day EMA. A slight pullback could serve as a lower-risk entry point to put on a starter position with the handle high serving as the standard buy point.<\/p>\n\n\n\n<p>The lower eps rating of 69 is&nbsp; offset by the huge quarterly sales growth. The B+ a\/d rating is solid and the u\/d volume ratio is very good at 1.4.<\/p>\n\n\n\n<p>This is not an official setup.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/210712ROKU.png\" alt=\"$ROKU daily\" title=\"\"><\/figure>\n\n\n\n<p><strong>Unofficial Setups<\/strong> &#8211; For experienced traders only, no guidance is given for these setups.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>$RBLX &#8211; buy at 87.40 or over 2-day high in anticipation of a downtrend line break<\/li>\n\n\n\n<li>$NTLA &#8211; buy at 154.65, pullback to rising 10ema after big volume gap up&nbsp;<\/li>\n\n\n\n<li>Others to watch &#8211;\u00a0 $FRHC $PGNY $UPST $AMD $XPEL $BILL $NTLA $PCOR\u00a0<\/li>\n<\/ul>\n\n\n\n<p class=\"has-light-green-cyan-background-color has-background\"><em><strong><a href=\"https:\/\/morpheustrading.com\/services\/swing-trade-alerts\" target=\"_blank\" rel=\"noreferrer noopener\">Start my Wagner Daily membership now<\/a><\/strong> to start receiving winning Morpheus stock trade signals, including a stock portfolio you can easily follow. <strong><a href=\"https:\/\/morpheustrading.com\/services\/swing-trade-alerts\" target=\"_blank\" rel=\"noreferrer noopener\">The Wagner Daily PRO<\/a> <\/strong>includes <strong>live swing trader room<\/strong> for daily, real-time trade ideas and powerful stock trading education. <\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>$ROKU is also forming a handle above the rising 20-day EMA. A slight pullback could serve as a lower-risk entry point to put on a starter position with the handle high serving as the standard buy point.<\/p>\n<p>The lower eps rating of 69 is\u00a0 offset by the huge quarterly sales growth. The B+ a\/d rating is solid and the u\/d volume ratio is very good at 1.4.<\/p>\n<p>This is not an official setup.<\/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-18526","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\/18526","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=18526"}],"version-history":[{"count":1,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/posts\/18526\/revisions"}],"predecessor-version":[{"id":18530,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/posts\/18526\/revisions\/18530"}],"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=18526"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/categories?post=18526"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/tags?post=18526"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}