01/06/2022 Watchlist Chart

01/06/2022 Watchlist Chart

 

Watchlist for 01/06/2022

$SHOP – The stock fell 2.61% during market hours and was down 0.23% after hours. On the daily timeframe, SHOP continues to make a lower low but showed relative strength until the sell off after FOMC. Currently its holding under the daily downtrend line and has a high chance to visit 1100, if SHOP can get back above 1200 again . Keep an eye on the 1200 level or back test 1182 level, as i t ca n test 1217 to 1231 level resistance. Above 1231 level, it can test 1244 to 1255 level resistance. Above that can test 1287 to 1300 level resistance. SHOP can drop and run l00 pts in a day. We will consider puts if SHOP fails to hold above the 1182 level, as it can pullback down to 1167 to 1146 level support. Below that can drop down to 1126 to 1100 level support. SHOP usually have wider spreads on option contracts. So always try to limit order.

Contract Suggestion:

Above 1200 or B/T 1182 level: 1250C 01/07 (1.6K Volume @6.00)
Below 1182 level : ll00P 01/07 (5.lK Volume @4.00)

 

$HD – The stock fell 1.36% du ring market hours but was up 0.06% after hours. On the daily timeframe, H D is forming the handle portion in the cup and handle pattern and there’s a big support at the 403 level which was the previous bounce level back on Monday. Keep a n eye on the 410 or back test 406 level, as it can test 413 to 416 (break out level) to test ATH of 420. We will consider puts if HD fails to hold above the 406 level, as it can pullback down to 403 to 400 level support.

Contract Suggestion:

Above 410 or B/T 406 level :412.5C 01/07 (647 Volume @1.34) or 410C 01/07 (678 Volume @ 2.18)
Below 406 level :402.5P 01/07 (438 Volume @1.70)

 

$RBLX – The stock fell 6.95% during market hours and was down 1.19% after hours. The market continues to punish growth stocks as RBLX is currently within the gap fill zone from the previous gap up after earnings report. On the daily timeframe, it broke down the descending triangle and closed a strong bearish candle. There’s a gap to be filled from 88 down to 79 level. There’s a chance to have a relief bounce at the 86 level where the 200DMA rest at. Keep an eye on the 90 level or bounce at 86 level, as i t ca n test 92 to 99 level resistance. We will consider puts if RBLX fails to hold above the 86 level, as it can pullback down to 83 to 79 level support.

Contract Suggestion:

Above 90 or B/T 86 level :90C 01/07 (1K Volume @ l.79) or 91C 01/07 (926 Volume @l.41)
Below 86 level :85P 01/07 (5.3K Volume @1.05)

$SNOW – The stock fell 5.91% during market hours and was down 0.04% after hours. On the daily timeframe, SN OW broke down the wedge and we saw a back test of the wedge break down and closed a new low. We can see a bounce near the 287 level where the 200D MA rest. We continue to see big whales pound the March 2022 calls despite the stock moving lower. Keep an eye on the 300 level, if SNOW can break above wit h volume, it can test 307 to 313 level resistance. Above 313 level, it can test 319 to 328 level resistance (9DMA). We will consider puts if SNOW fails to hold above the 290 level, as it can pullback down to 287 (200DMA) to 278 level support.

Contract Suggestion :

Above 300 level :310C 01/07 (1.lK Volume @2.40)
Below 290 level: 280P 01/07 (401 Volume @2.15)

$NVDA – The stock fell 5.76% during market hours but was up 0.60% after hours. On the daily timeframe, NVDA fell right back into the falling wedge after a failed break out last week. NVDA closed a strong bearish candle and showed relative weakness to the market as it closed near low of the day. Tech continues to be hit hard these past few days. Keep a n eye on the 277 level, if NVDA ca n break above wit h volume, it can test 285 to 287 level resistance. Above 287 level, it can test 295 to 300 level resistance. We will consider puts if NVDA fa i ls to hold above the 272 level, as it can pull back down to 263 to 260 level support.

Contract Suggestion:

Above 277 level : 285C 01/07 (17.9K Volume @2.05)
Below 272 level :270P 01/07 (9.lK Volume @2.87)

 

* *NEWS TO LOOK OUT FOR THIS WEEK * *

 

  • Unemployment claims Data on Thursday (01/06) @ 5:30am PST/8:30am EST
  • Non-farm payroll for December 2021 on Friday (01/07) @ 5:30a m PST/8:30a m EST

 

 

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