{"id":18794,"date":"2021-06-03T06:48:00","date_gmt":"2021-06-03T10:48:00","guid":{"rendered":"https:\/\/morpheustrading.com\/blog\/?p=18794"},"modified":"2023-02-24T03:40:11","modified_gmt":"2023-02-24T08:40:11","slug":"swing-trading-stocks-060321","status":"publish","type":"post","link":"https:\/\/morpheustrading.com\/blog\/swing-trading-stocks-060321\/","title":{"rendered":"The Wagner Daily &#8211; $PATH Bounces Off EMA Ahead of Earnings"},"content":{"rendered":"\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/210603PATH.png\" alt=\"$PATH daily\" title=\"\"><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\">The Wagner Daily &#8211; June 3, 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\/210603watch.png\" alt=\"$todays watchlist\" title=\"\"><\/figure>\n\n\n\n<p><br \/><a id=\"positions\"><strong><em>open positions:<\/em><\/strong><\/a><\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"http:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/210603open.png\" alt=\"$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=\"$closed positions\" title=\"\"><\/figure>\n\n\n\n<p><strong>po<\/strong><strong>sition notes:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>&nbsp; &nbsp; &nbsp;$UPST long triggered.<\/li>\n\n\n\n<li>&nbsp; &nbsp; &nbsp;Per intraday alert, bought $NVDA.<\/li>\n\n\n\n<li>&nbsp; &nbsp; &nbsp;Canceled the $GE buy stop.&nbsp;<\/li>\n<\/ul>\n\n\n\n<p><strong><em><strong><em><strong><em><a id=\"etf\"><strong><em>Commentary:<\/em><\/strong><\/a><\/em><\/strong><\/em><\/strong><\/em><\/strong><\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1\" height=\"1\" src=\"https:\/\/new.morpheustrading.com\/blog\/wp-content\/uploads\/2023\/02\/image-40.gif\" alt=\"\" class=\"wp-image-18798\" title=\"Anchor\"><\/figure>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1\" height=\"1\" src=\"https:\/\/new.morpheustrading.com\/blog\/wp-content\/uploads\/2023\/02\/image-39.gif\" alt=\"\" class=\"wp-image-18796\" title=\"Anchor\"><\/figure>\n\n\n\n<p>Energy and retail led the charge on Wednesday with most indices basically flat on the day with a slight +0.1 to +0.2% gain.<\/p>\n\n\n\n<p>Since reclaiming the 20-day EMA and generating a buy signal, the price action in the Nasdaq has been constructive. A little chop here is fine, as it would allow the 10-day EMA to catch up to the price.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/210603COMP.png\" alt=\"$Nasdaq Comp  daily\" title=\"\"><\/figure>\n\n\n\n<p>$UPST buy stop triggered and was added to the model portfolio. $UPST is a must-own for us, though it&#8217;s quite volatile and tough to put on with size due to the wide stops. We have a buy stop in place on today&#8217;s watchlist to add to our position.<\/p>\n\n\n\n<p>The ratings and eps\/sales numbers on the chart below&nbsp;are from Marketsmith by IBD. For those not familiar with IBD ratings, shoot us an email at editors@morphuestrading.com.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/210603UPST.png\" alt=\"$UPST  daily\" title=\"\"><\/figure>\n\n\n\n<p>Per intraday alert, bought $NVDA about 2% above the base high, which is the last buy point for us before a stock is too extended. In William O&#8217; Neil&#8217;s &#8220;How To Make Money In Stocks&#8221;, his system allows buys up to 5% above the base high in a cup with no handle pattern like $NVDA. We prefer to go no higher than 2%, as 4-5% above the pivot makes it difficult to sit through a shakeout.<\/p>\n\n\n\n<p>Looking for $NVDA to chop around and allow the 10-day EMA to catch up.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/210603NVDA.png\" alt=\"$NVDA  daily\" title=\"\"><\/figure>\n\n\n\n<p>$LESL has formed a cup with handle pattern and is in play over Wednesday&#8217;s high. This is not an official setup.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/210603LESL.png\" alt=\"$LESL daily\" title=\"\"><\/figure>\n\n\n\n<p>$PATH&#8217;s inside day on Wednesday bounced off the 20-day EMA and closed above the 10-day EMA. A buy stop can be placed above the high of the inside day with a stop beneath the 2-day low. $PATH reports earnings next Tuesday 6\/8. This is not an official setup.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/210603PATH.png\" alt=\"$PATH daily\" title=\"\"><\/figure>\n\n\n\n<p>Note that the $GE setup was canceled. The setup is fine but it is just a slower mover.<\/p>\n\n\n\n<p><strong>Unofficial Setups<\/strong> &#8211; For experienced traders only, no guidance is given for these setups.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>$LESL &#8211; buy at 29.75, add at 30.40<\/li>\n\n\n\n<li>$PATH &#8211; buy at 82.51<\/li>\n\n\n\n<li>$COIN &#8211; buy at 245.00 for pop off the lows<\/li>\n\n\n\n<li>$NVCR &#8211; buy at 206.00<\/li>\n\n\n\n<li>Watching &#8211; $TUYA $PATH $SNAP $CRWD $NVDA $AMAT $UPST $ELAN $GS (pullback)<\/li>\n<\/ul>\n\n\n\n<p class=\"has-light-green-cyan-background-color has-background\"><em><strong><a href=\"https:\/\/morpheustrading.com\/services\/swing-trade-alerts\" target=\"_blank\" rel=\"noreferrer noopener\">Start my Wagner Daily membership now<\/a><\/strong> to start receiving winning Morpheus stock trade signals, including a stock portfolio you can easily follow. <strong><a href=\"https:\/\/morpheustrading.com\/services\/swing-trade-alerts\" target=\"_blank\" rel=\"noreferrer noopener\">The Wagner Daily PRO<\/a> <\/strong>includes <strong>live swing trader room<\/strong> for daily, real-time trade ideas and powerful stock trading education. <\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>$PATH&#8217;s inside day on Wednesday bounced off the 20-day EMA and closed above the 10-day EMA. A buy stop can be placed above the high of the inside day with a stop beneath the 2-day low. $PATH reports earnings next Tuesday 6\/8. 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-18794","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\/18794","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=18794"}],"version-history":[{"count":1,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/posts\/18794\/revisions"}],"predecessor-version":[{"id":18802,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/posts\/18794\/revisions\/18802"}],"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=18794"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/categories?post=18794"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/tags?post=18794"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}