{"id":17358,"date":"2022-03-03T06:48:00","date_gmt":"2022-03-03T11:48:00","guid":{"rendered":"https:\/\/morpheustrading.com\/blog\/?p=17358"},"modified":"2023-02-14T03:02:27","modified_gmt":"2023-02-14T08:02:27","slug":"swing-trading-stocks-030322","status":"publish","type":"post","link":"https:\/\/morpheustrading.com\/blog\/swing-trading-stocks-030322\/","title":{"rendered":"The Wagner Daily &#8211; New Buy Setup: $LYV with Strong Sales Growth and High Relative Strength"},"content":{"rendered":"\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/220303LYV.png\" alt=\"$DOCS dAILY \" title=\"\"><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\">The Wagner Daily &#8211; March 3, 2022<\/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;&nbsp; SELL<\/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><strong><em>today&#8217;s watchlist (potential trade entries):<\/em><\/strong><\/a><\/p>\n\n\n\n<p><img decoding=\"async\" alt=\"$todays watchlist\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/220303watch.png\" title=\"\"><br \/><br \/><a><strong><em>open positions:<\/em><\/strong><\/a><\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/220303open.png\" alt=\"$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=\"https:\/\/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>Per intraday alert, bought $DOCS.<\/li>\n<\/ul>\n\n\n\n<p><strong><em><strong><em><strong><em><a><strong><em>Commentary:<\/em><\/strong><\/a><\/em><\/strong><\/em><\/strong><\/em><\/strong><\/p>\n\n\n\n<p>The S&amp;P 500 and Nasdaq Composite closed with solid gains of +1.9% and +1.6% respectively.&nbsp; The&nbsp;volume failed to confirm the price action as it was lighter on both exchanges, so no follow-through day (FTD). That being said, a 1% or more close above the 21-day EMA on either index would generate a buy signal in the timing model (no need for a FTD).<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/220303SPX.png\" alt=\"$S&amp;P 500 daily \" title=\"\"><\/figure>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/220303COMP.png\" alt=\"$Nasdaq cOMP dAILY \" title=\"\"><\/figure>\n\n\n\n<p>How we&#8217;d like to see the rally play out during the next few weeks:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Buy signal in the timing model&#8230;FTD or reclaim of 21-day EMA<\/li>\n\n\n\n<li>Stocks begin to breakout on volume and hold and indexes hold the 21-day EMA<\/li>\n\n\n\n<li>Number of stocks making new 52-week highs vs 52-week lows enters into positive territory<\/li>\n<\/ul>\n\n\n\n<p>It will be tough to increase long exposure past 50% until a few of the above conditions are met.<\/p>\n\n\n\n<p>Per intraday alert,&nbsp; bought $DOCS due to Thursday&#8217;s bullish reversal candle action and move through resistance at $60. For now, the stop is Wednesday&#8217;s low.&nbsp; Looking for the price to break the downtrend line soon with some help from the market.&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/220303DOCS.png\" alt=\"$DOCS dAILY \" title=\"\"><\/figure>\n\n\n\n<p>There is one new official buy setup for Thursday&#8217;s session in $LYV.<\/p>\n\n\n\n<p>$LYV has no earnings growth but has three quarters in a row of +600% sales growth along with a yearly eps esimate of $1.53 for 2023, which is a 189% increase. We like the consolidation near the highs with the price action setting higher lows in February vs lower lows in the S&amp;P 500. The relative strength line has already set a new high ahead of price&nbsp;(a bullish sign). The recent breakout led to a shakeout down to the 20 and 50-day MAs, where the price found support. We have a buy stop to enter over Wednesday&#8217;s high, which would put the price back above the $121.50 breakout area.<\/p>\n\n\n\n<p>$LYV&#8217;s group is ranked 28 of 197. Its 12-month RS rating is a solid 95. The accumulation\/distribution rating by marketsmith is a D+, which isn&#8217;t ideal. However, it&#8217;s showing a ton of relative strength in a strong group.&nbsp;&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/220303LYV.png\" alt=\"$DOCS dAILY \" title=\"\"><\/figure>\n\n\n\n<p>The charts below are not official setups, just monitoring the action for now.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/220303GFS.png\" alt=\"$docs \" title=\"\"><\/figure>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/220303CARG.png\" alt=\"$CARG \" title=\"\"><\/figure>\n\n\n\n<p>Whenever the market (ideally the Nasdaq) attempts to bottom out, we look for a few things:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Higher lows, market should hold the low set on day one of the new rally attempt<\/li>\n\n\n\n<li>Market reclaims 10-day SMA and eventually reclaims the 20-day EMA (within a few weeks)<\/li>\n\n\n\n<li>Follow through day (buy signal) prints on day 4 or later of a new rally attempt (may occur before or after the index reclaims the 20-day EMA)<\/li>\n\n\n\n<li>New leadership emerges to confirm the fresh new buy signal<\/li>\n<\/ul>\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>Longs &#8211; watching $CARG $PANW $AOSL $ACLS $LYV $GFS $SQM $BYD $SEDG $JKS &#8211; Stocks off lows that could pop $PLUG $BLDP $UBER $SQ<\/li>\n\n\n\n<li>Shorts &#8211; entries below prior day&#8217;s low only if market is weak &#8211; $BYND and $APP<\/li>\n<\/ul>\n\n\n\n<p>See you in the chat room,<\/p>\n\n\n\n<p>Rick&nbsp;<\/p>\n\n\n\n\n\n\n\n<p>This list is a good starting point for monitoring the health of the market for those who have limited time.<\/p>\n\n\n\n<p><a href=\"https:\/\/morpheustrading.com\/services\/swing-trade-alerts\">https:\/\/morpheustrading.com\/services\/swing-trade-alerts<\/a><\/p>\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 is one new official buy setup for Thursday&#8217;s session in $LYV.<\/p>\n<p>$LYV has no earnings growth but has three quarters in a row of +600% sales growth along with a yearly eps esimate of $1.53 for 2023, which is a 189% increase. We like the consolidation near the highs with the price action setting higher lows in February vs lower lows in the S&#038;P 500. The relative strength line has already set a new high ahead of price\u00a0(a bullish sign). The recent breakout led to a shakeout down to the 20 and 50-day MAs, where the price found support. We have a buy stop to enter over Wednesday&#8217;s high, which would put the price back above the $121.50 breakout area.<\/p>\n<p>$LYV&#8217;s group is ranked 28 of 197. Its 12-month RS rating is a solid 95. The accumulation\/distribution rating by marketsmith is a D+, which isn&#8217;t ideal. However, it&#8217;s showing a ton of relative strength in a strong group.<\/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-17358","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\/17358","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=17358"}],"version-history":[{"count":1,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/posts\/17358\/revisions"}],"predecessor-version":[{"id":17362,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/posts\/17358\/revisions\/17362"}],"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=17358"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/categories?post=17358"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/tags?post=17358"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}