{"id":544,"date":"2012-02-28T14:54:12","date_gmt":"2012-02-28T19:54:12","guid":{"rendered":"http:\/\/morpheustrading.wordpress.com\/?p=544"},"modified":"2012-02-28T14:54:12","modified_gmt":"2012-02-28T19:54:12","slug":"review-of-our-swing-trading-buy-entry-into-netsuite-n","status":"publish","type":"post","link":"https:\/\/morpheustrading.com\/blog\/review-of-our-swing-trading-buy-entry-into-netsuite-n\/","title":{"rendered":"Review of our swing trading buy entry into Netsuite ($N)"},"content":{"rendered":"<p>Recently, we bought Netsuite ($N) as a swing trade in\u00a0<a href=\"https:\/\/www.morpheustrading.com\/services\" target=\"_blank\"><em>The Wagner Daily<\/em><\/a> newsletter. Below is a chart that shows the &#8220;cup and handle&#8221; setup of the stock before our entry point:<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" style=\"border-color:initial;border-style:initial;border-width:0;\" src=\"https:\/\/www.morpheustrading.com\/~rick\/charts\/2011\/NFEB28.gif\" alt=\"\" width=\"570\" height=\"480\" border=\"0\" title=\"\"><\/p>\n<p>On February 23, we sent out an intraday alert to subscribers of <em><a title=\"Wagner Daily\" href=\"https:\/\/morpheustrading.com\/services\" target=\"_blank\">The Wagner Daily<\/a><\/em>, notifying them we were establishing a long position in N over resistance of the two-day high. Once it triggered our buy entry price, N followed through to the upside and closed near the highs of the day, on a strong pick up in volume. This indicates institutional support driving the price higher. The very next day, N broke above the high of the &#8220;handle,&#8221; on higher volume as well, as shown on the chart below:<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" style=\"border-color:initial;border-style:initial;border-width:0;\" src=\"https:\/\/www.morpheustrading.com\/~rick\/charts\/2011\/NFEB282.gif\" alt=\"\" width=\"570\" height=\"480\" border=\"0\" title=\"\"><\/p>\n<p>At present, we remain long N (with a 7% unrealized gain), as we expect the price action to resume its current uptrend after a few days of stalling action around the $48.00 &#8211; $49.00 area.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Recently, we bought Netsuite ($N) as a swing trade in\u00a0The Wagner Daily newsletter. Below is a chart that shows the &#8220;cup and handle&#8221; setup of the stock before our entry point: On February 23, we sent out an intraday alert to subscribers of The Wagner Daily, notifying them we were establishing a long position in [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_links_to":"","_links_to_target":""},"categories":[5,3],"tags":[],"class_list":["post-544","post","type-post","status-publish","format-standard","hentry","category-stock-picks-analysis","category-stock-trading-strategy"],"_links":{"self":[{"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/posts\/544","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\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/comments?post=544"}],"version-history":[{"count":0,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/posts\/544\/revisions"}],"wp:attachment":[{"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/media?parent=544"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/categories?post=544"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/tags?post=544"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}