{"id":19144,"date":"2021-04-07T06:48:00","date_gmt":"2021-04-07T10:48:00","guid":{"rendered":"https:\/\/morpheustrading.com\/blog\/?p=19144"},"modified":"2023-02-27T20:36:50","modified_gmt":"2023-02-28T01:36:50","slug":"swing-trading-stocks-040721","status":"publish","type":"post","link":"https:\/\/morpheustrading.com\/blog\/swing-trading-stocks-040721\/","title":{"rendered":"The Wagner Daily &#8211; $APPS: Trade Entry Strategy"},"content":{"rendered":"\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/210407APPS.png\" alt=\"$APPS daily \" title=\"\"><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\">The Wagner Daily &#8211; April 7, 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>S&amp;P 500 buy, Nasdaq Composite buy<\/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=\"$todays watchlist\" title=\"\"><\/figure>\n\n\n\n<p><br \/><a id=\"positions\"><strong><em>open positions:<\/em><\/strong><\/a><\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"http:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/210407open2.png\" alt=\"$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\/2021\/210407closed.png\" alt=\"$closed positions\" title=\"\"><\/figure>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>po<\/strong><strong>sition notes:<\/strong><\/li>\n\n\n\n<li>$UPST buy stop triggered.<\/li>\n\n\n\n<li>Per intraday alert, bought $APPS and $FUTU. Sold $RIOT for a small loss.<\/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-83.gif\" alt=\"\" class=\"wp-image-19178\" 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-82.gif\" alt=\"\" class=\"wp-image-19176\" title=\"Anchor\"><\/figure>\n\n\n\n<p>The S&amp;P 500 and Nasdaq Composite are a bit extended in the short-term from the rising 10-day EMA and may need some time to digest recent&nbsp;gains. When a stock or index corrects, it can do so in one of two ways, either by price or time. If by price, then we could see a few days of lower highs and lower lows. If by time, then look for sideways to slightly lower price action that allows the 10-day EMA to catch up.<\/p>\n\n\n\n<p>The model portfolio added three new positions in $FUTU, $APPS, and $UPST.<\/p>\n\n\n\n<p>$UPST triggered off the official watchlist, while $FUTU and $APPS were bought with an intraday alert. For those not already long $APPS or $FUTU, set a buy stop above Tuesday&#8217;s high as an entry. $RIOT was sold for a very small loss to make room for $FUTU, as we did not want to increase our exposure to crypto-related stocks. For those who want to hold on to $RIOT(which is still looking good), a stop can be placed at 49.29.<\/p>\n\n\n\n<p>Bought $FUTU as it took out the morning high after reversing off the 50-day MA.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/210407FUTU.png\" alt=\"$FUTU daily \" title=\"\"><\/figure>\n\n\n\n<p>Bought $APPS over the two-day high. The price failed to follow through right away, but we like the trade using the low of Monday&#8217;s reversal candle as our stop.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/210407APPS.png\" alt=\"$APPS daily \" title=\"\"><\/figure>\n\n\n\n<p>$UPST failed to move out after triggering our buy stop but did close with a tight-ranged inside day. The hourly chart looks constructive above the rising 20-period EMA. Let&#8217;s see if the price can break through $150 and hold, which could spark the next wave up.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/210407UPST.png\" alt=\"$UPST daily \" title=\"\"><\/figure>\n\n\n\n<p>There are no new official setups for Wednesday&#8217;s session. Let&#8217;s see how recent buys hold up before putting more money to work.<\/p>\n\n\n\n<p>Below are a few setups that could be in play:&nbsp;<\/p>\n\n\n\n<p>$GRWG closed with a tight-ranged inside day on light volume at the 50-day MA for the third day in a row. A move through the three-day high could lead to a downtrend line break.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/210407GRWG.png\" alt=\"$GRWG daily \" title=\"\"><\/figure>\n\n\n\n<p>$RBLX is another tight-ranged inside day with the price chopping around a rising 20ema on the hourly chart. A move through the two-day high could lead to a test of the prior high. The stop is the low of the inside day, which makes this a GONG setup (Go Or No Go). Either they work or there is usually a quick stop out.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/210407RBLX.png\" alt=\"$RBLX  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>$MVIS &#8211; buy at 15.85<\/li>\n\n\n\n<li>$SM &#8211; buy at 19.20Other stocks to watch: $SQ $ABNB $YALA\u00a0 over swing highs, but if the market is weak these entries\u00a0may struggleWatch for pullback setups in: $PINS, $LRCX, $NVDA\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>Bought $APPS over the two-day high. The price failed to follow through right away, but we like the trade using the low of Monday&#8217;s reversal candle as our stop.<\/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-19144","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\/19144","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=19144"}],"version-history":[{"count":1,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/posts\/19144\/revisions"}],"predecessor-version":[{"id":19182,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/posts\/19144\/revisions\/19182"}],"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=19144"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/categories?post=19144"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/tags?post=19144"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}