{"id":19246,"date":"2021-03-17T06:48:00","date_gmt":"2021-03-17T10:48:00","guid":{"rendered":"https:\/\/morpheustrading.com\/blog\/?p=19246"},"modified":"2023-02-27T22:13:18","modified_gmt":"2023-02-28T03:13:18","slug":"swing-trading-stocks-031721","status":"publish","type":"post","link":"https:\/\/morpheustrading.com\/blog\/swing-trading-stocks-031721\/","title":{"rendered":"The Wagner Daily &#8211; $TWTR pulls back to 10-day EMA"},"content":{"rendered":"\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/210317TWTR.png\" alt=\"\" title=\"\"><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\">The Wagner Daily &#8211; March 17, 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><strong><em>market timing model: S&amp;P 500 BUY, No FTD day in Nasdaq Composite yet, but price is above 20ema<\/em><\/strong><\/p>\n\n\n\n<p>Our timing model was designed to keep 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><strong><em>today&#8217;s watchlist (potential trade entries):<\/em><\/strong><\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/210317watch.png\" alt=\"\" title=\"\"><\/figure>\n\n\n\n<p><strong><em>open positions:<\/em><\/strong><\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/210317open.png\" alt=\"\" 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\/2021\/210317closed.png\" alt=\"\" title=\"\"><\/figure>\n\n\n\n<p><strong>position notes:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Note the change to the $NCTY buy setup.<\/li>\n<\/ul>\n\n\n\n<p><strong><em><strong><em><strong><em><strong><em>Commentary:<\/em><\/strong><\/em><\/strong><\/em><\/strong><\/em><\/strong><\/p>\n\n\n\n<p>The Nasdaq Composite stalled at the prior swing high and sold off, but is still trading above the 10 &amp; 20-day EMAs and the 50-day MA. Overall, we like the current rally in the S&amp;P 500, but the Nasdaq has yet to produce a follow through day.<\/p>\n\n\n\n<p>Tuesday&#8217;s session was a busy one for the model portfolio. Most stocks pulled back in with the exception of $JWN, which held up extremely well. Per intraday alert, we sold partial size in $JWN for a 16% gain and now hold a half position. Our plan is to use a break of the 10-day EMA as the stop on the rest.<\/p>\n\n\n\n<p>Per intraday alerts, stopped out of $CCL at break-even and sold $SI for a small 4% gain and $SQ for a -1% loss. $MARA was also sold for a small 3% loss on just a 3% position. $W hit our stop and we are out.<\/p>\n\n\n\n<p>There isn&#8217;t much progress being made in the portfolio as of late, but the remaining half position in $JWN could continue to run while we wait for conditions to improve.<\/p>\n\n\n\n<p>While we saw no reason to stick around in $CCL or $MARA and sold ahead of the stops, doing so in $SQ and $SI was a mistake.<\/p>\n\n\n\n<p>On today&#8217;s watchlist we have a buy limit order to re-enter $SQ, as Tuesday&#8217;s close was near the original entry.<\/p>\n\n\n\n<p>Although the higher volume distribution day in $SI wasn&#8217;t ideal, the price was still trading above the 5 and 10-day MAs when we sold. The low of Monday&#8217;s wide ranged day should have been the stop.<\/p>\n\n\n\n<p>Will wait for $SI to setup again before entering.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/210317SI.png\" alt=\"\" title=\"\"><\/figure>\n\n\n\n<p>$TWTR pulled back to the rising 10-day EMA on lighter volume Tuesday.&nbsp;<\/p>\n\n\n\n<p>We like the pull back into support and look for the rising 20ema to provide support. We are trying to enter near Tuesday&#8217;s close with a buy limit order. Stop is the three-day low.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/210317TWTR.png\" alt=\"\" title=\"\"><\/figure>\n\n\n\n<p>For those who did not stop out of $SQ or $SI, continue to hold with stops at $138.55 ($SI) and $228.95 ($SQ).<\/p>\n\n\n\n<p>$NCTY is still very much in play if it can clear the highs of the tight range.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/210317NCTY.png\" alt=\"\" title=\"\"><\/figure>\n\n\n\n<p><strong>Unofficial Setups<\/strong>&nbsp;&#8211; For experienced traders only, no guidance is given for these setups.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>$PENN &#8211; see how it acts tomorrow morning, if it holds 10ema or reverses off a test of 20ema.<\/li>\n\n\n\n<li>$W &#8211; buy at 331.51<\/li>\n\n\n\n<li>$RIOT and $MARA &#8211; see how it holds up vs 10ema, watch for an hourly downtrend line break<\/li>\n\n\n\n<li>$TDC &#8211; buy at 45.51<\/li>\n\n\n\n<li>$ABNB &#8211; watch for pullback entry to develop in the 195 area near 20-day EMA<\/li>\n<\/ul>\n\n\n\n<p class=\"has-light-green-cyan-background-color has-background\"><em><strong><a href=\"https:\/\/morpheustrading.com\/services\/swing-trade-alerts\" target=\"_blank\" rel=\"noreferrer noopener\">Start my Wagner Daily membership now<\/a><\/strong> to start receiving winning Morpheus stock trade signals, including a stock portfolio you can easily follow. <strong><a href=\"https:\/\/morpheustrading.com\/services\/swing-trade-alerts\" target=\"_blank\" rel=\"noreferrer noopener\">The Wagner Daily PRO<\/a> <\/strong>includes <strong>live swing trader room<\/strong> for daily, real-time trade ideas and powerful stock trading education. <\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>$TWTR pulled back to the rising 10-day EMA on lighter volume Tuesday.\u00a0<\/p>\n<p>We like the pull back into support and look for the rising 20ema to provide support. We are trying to enter near Tuesday&#8217;s close with a buy limit order. Stop is the three-day low.<\/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-19246","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\/19246","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=19246"}],"version-history":[{"count":1,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/posts\/19246\/revisions"}],"predecessor-version":[{"id":19278,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/posts\/19246\/revisions\/19278"}],"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=19246"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/categories?post=19246"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/tags?post=19246"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}