{"id":18696,"date":"2021-06-16T06:48:00","date_gmt":"2021-06-16T10:48:00","guid":{"rendered":"https:\/\/morpheustrading.com\/blog\/?p=18696"},"modified":"2023-02-23T23:52:24","modified_gmt":"2023-02-24T04:52:24","slug":"swing-trading-stocks-061621","status":"publish","type":"post","link":"https:\/\/morpheustrading.com\/blog\/swing-trading-stocks-061621\/","title":{"rendered":"The Wagner Daily &#8211; $GNRC Approaching Buy Point for Potential Breakout"},"content":{"rendered":"\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/210616GNRC.png\" alt=\"$GNRC daily\" title=\"\"><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\">The Wagner Daily &#8211; June 16, 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<\/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=\"$todays watchlist\" title=\"\"><\/figure>\n\n\n\n<p><br \/><a id=\"positions\"><strong><em>open positions:<\/em><\/strong><\/a><\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"http:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/210616open.png\" alt=\"$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>&nbsp; &nbsp; &nbsp;Note the new stops in $SE and $SNAP<\/li>\n<\/ul>\n\n\n\n<p><strong><em><strong><em><strong><em><a id=\"etf\"><strong><em>Commentary:<\/em><\/strong><\/a><\/em><\/strong><\/em><\/strong><\/em><\/strong><\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1\" height=\"1\" src=\"https:\/\/new.morpheustrading.com\/blog\/wp-content\/uploads\/2023\/02\/image-24.gif\" alt=\"\" class=\"wp-image-18698\" title=\"Anchor\"><\/figure>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1\" height=\"1\" src=\"https:\/\/new.morpheustrading.com\/blog\/wp-content\/uploads\/2023\/02\/image-25.gif\" alt=\"\" class=\"wp-image-18700\" title=\"Anchor\"><\/figure>\n\n\n\n<p>The Nasdaq Composite logged a distribution day with Tuesday&#8217;s higher volume selloff.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/210616COMP.png\" alt=\"$Nasdaq Comp daily\" title=\"\"><\/figure>\n\n\n\n<p>In Monday&#8217;s report, we mentioned the lack of setups due to to many stocks on our list being extended from the 10-day EMA. So a few days of rest in the Nasdaq is welcomed, provided that leading stocks avoid breaking down on higher volume. Will leaders like $CRWD, $NET, $SE, and $ZS pull back on light volume to the 10-day EMA and hold? How will recent breakouts in $ASAN, $APP, and $QFIN react if\/when they stall and pull back in?<\/p>\n\n\n\n<p>There were no new buys or sells to report in the model portfolio on Tuesday, as we are just looking to hold on to what we have.<\/p>\n\n\n\n<p>$RBLX released some financial data after the close and sold off down to $82 in after-hours trading. For those who are able to watch the market, avoid selling on the open (if below the stop) and wait at least 1-5 minutes for a potential reversal. For those who are unable to watch, either set a time-based stop if your broker allows&nbsp;or exit on the open. Sometimes these gaps happen and we just have to chalk it up to doing business as a trader.<\/p>\n\n\n\n<p>Note the new stops in $SNAP and $SE. With $SNAP, there were two failed attempts to push through $64-65, so we are raising the stop to limit our loss in case the price fails to hold the 10-day EMA.<\/p>\n\n\n\n<p>$SE&#8217;s breakout above the downtrend line and prior high failed to attract much buying interest. We have a new stop just below the 10-day EMA. If triggered we will exit with a small 3% loss and monitor for a low-risk buy point.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/210616SE.png\" alt=\"$SE daily\" title=\"\"><\/figure>\n\n\n\n<p>There are no new official setups for Wednesday. However, $GNRC is approaching the highs of its base and maybe in play on a heavy volume breakout. When entering at an obvious buy point, one could go with a 6% stop or use a close beneath the low of the breakout day as an early exit.&nbsp;<\/p>\n\n\n\n<p>$GNRC has both ramping earnings and sales growth the last three quarters along with solid IBD ratings, so it is a top-rated stock for us.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/210616GNRC.png\" alt=\"$GNRC daily\" title=\"\"><\/figure>\n\n\n\n<p><strong>Unofficial Setups<\/strong> &#8211; For experienced traders only, no guidance is given for these setups.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>$GNRC &#8211; buy at 364.26 (base breakout)<\/li>\n\n\n\n<li>$LAZR &#8211; buy at 24.30 (swing trade)<\/li>\n\n\n\n<li>$TGH &#8211; buy at 32.76 (swing trade)<\/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 are no new official setups for Wednesday. However, $GNRC is approaching the highs of its base and maybe in play on a heavy volume breakout. When entering at an obvious buy point, one could go with a 6% stop or use a close beneath the low of the breakout day as an early exit.\u00a0<\/p>\n<p>$GNRC has both ramping earnings and sales growth the last three quarters along with solid IBD ratings, so it is a top-rated stock for us.<\/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-18696","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\/18696","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=18696"}],"version-history":[{"count":1,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/posts\/18696\/revisions"}],"predecessor-version":[{"id":18704,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/posts\/18696\/revisions\/18704"}],"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=18696"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/categories?post=18696"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/tags?post=18696"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}