02/09/2022 Watchlist Chart

02/09/2022 Watchlist Chart

 

Watchlist for Wednesday, 02/09/2022

 

$BABA – The stock traded up 6.17% during market hours but was down 0.74% after hours. On the daily timeframe, BABA gapped up and closed a strong bullish candle but found some resistance at the 50DMA (122.79). Historically, Chinese stocks do well in the month of February and it’s closing in on testing the downtrend line. We also continue to see lots of buyers waiting at the 110 level as evidenced by 4 multiple bounces at that level with volume. Keep an eye on the 123 level, if BABA can break above with volume, it can test 127 to 130 level resistance. We will consider puts if BABA fails to hold above the 121 level, as it can pull back down to 119 to 114 level support.

Contract Suggestion:
Above 123 level: 125C 02/11 (10.7K Volume @1.63)
Below 121 level: 120P 02/11 (2.8K Volume @2.17)

 

 

$SE – The stock traded up 4.09% during market hours and was up 1.16% after hours. On the daily timeframe, SE continues to hold the 147 level and managed to string together consecutive bullish candles with decent volume. We were able to see accumulation that’s last few trading sessions to validate the 147 level as the new support from the lows of 119 level. We also continue to see ARK buying the dip on SE as well. Keep an eye on the 165 level, if SE can break above with volume, it can test 170 to 177 (break out level). Above 177 level, it can test 187 to 194 level resistance. We will consider puts if SE fails to hold above the 159 level, as it can pull back down to 155 to 153 level support. Below that, it can pull back down to 147 to 143 level support.

Contract Suggestion:
Above 165 level: 170C 02/11 (973 Volume @2.10) or 180C 02/18 (4.7K Volume @2.29)
Below 159 level: 155P 02/11 (240 Volume @2.29) – Wide Spread

 

 

$AAPL – The stock traded up 1.85% during market hours and was up 0.19% after hours. During Tuesday’s trading session, AAPL was showing relative strength as it managed to close near high of the day relative to the market. On the daily timeframe, AAPL broke out of the falling wedge pattern while holding onto the 50DMA (171.48) as a dynamic support. Keep an eye on the 175 or backtest 173 level, as it can test 177 to 180 level resistance. We will consider puts if AAPL fails to hold above the 173 level, as it can pull back down to 168 to 165 level support.

Contract Suggestion:
Above 175 or B/T 173 level: 177.5C 02/11 (74.3K Volume @0.44) or 177.5C 02/18 (30.7K Volume @1.59)
Below 173 level: 172.5P 02/11 (64.5K Volume @0.73)

 

 

$NVDA – The stock traded up 1.54% during market hours and was up 1.14% after hours. On the daily timeframe, NVDA was trading within a range between 235 to 254 (break out level) but managed to close a strong bullish candlestick during Tuesday’s trading sessions. NVDA reports earnings next Wednesday (02/16) with more news coming out regarding their ARMS deal. We also see a mini wedge forming as well. Keep an eye on the 254 or backtest 250 level, as it can test 260 to 263 level resistance. We will consider puts if NVDA fails to hold above the 250 level, as it can pull back down to 248 to 241 (strong support) level.

Contract Suggestion:
Above 254 or B/T 250 level: 255C 02/11 (30.5K Volume @3.25) or 260C 02/11 (20.3K Volume @1.65)
Below 250 level: 245P 02/11 (15.5K Volume @2.74) or 240P 02/11 (20.9K Volume @1.55)

 

 

****NEWS TO LOOK OUT FOR THIS WEEK***

 

  • Unemployment claims data on Thursday (02/10) at 5:30 am PST/8:30 am EST
  • Core CPI for January 2022 on Thursday (02/10) at 5:30 am PST/8:30 am EST
  • Federal Budget for January 2022 on Thursday (02/10) at 11 am PST/2 pm EST

 

 

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