02/11/2022 Watchlist Chart

02/11/2022 Watchlist Chart

 

Watchlist for Friday, 02/11/2022

 

$AMD – The stock fell 5.33% during market hours and was down 0.81% after hours. On the daily timeframe, AMD attempted to break out of the downtrend but continues to get rejected near the 50DMA (133.74). You can see the weekly downtrend line easier on the weekly timeframe at for the rejection. We may see a possible run-up next week into NVDA’s earnings report. Keep an eye on the 130 level or backtest 125 level, as it can test 133 (50DMA) to 140 level resistance. We will consider puts if AMD fails to hold above the 125 level, as it can pull back down to 122 to 118 level support.

Contract Suggestion:
Above 130 or B/T 125 level: 126C 02/11 (3.2K Volume @1.57) or 132C 02/18 (10.1K Volume @1.57)
Below 125 level: 123P 02/11 (3.6K Volume @0.70)

 

 

$RBLX – On the daily timeframe, RBLX continues to find heavy resistance at the 73-level resistance but had great news with their NFL partnership the day before. It did show relative strength near open but quickly sold off with the market after Feds comments mid daily. RBLX does report earnings on Tuesday (02/15) so we may have a possible run-up. Keep an eye on the 70 level or backtest 67 level, as it can test 73 to 78 level resistance. We will consider puts if RBLX fails to hold above the 67 levels, as it can pull back down to 64 to 60 level support.

Contract Suggestion:
Above 70 or B/T 67 level: 70C 02/11 (11K Volume @1.60) or 716 02/11 (5.5K Volume @1.15)
Below 67 level: 65P 02/11 (3.3K Volume @0.20)

 

 

$IWM – On the daily timeframe, IWM was showing relative strength as it dropped sharply from its high of the days and closed near the low of the day. IWM continues to trade within a downtrend and the weekly timeframe on the 9MA (207.71) acted as a rejection level. Keep an eye on the 203 or backtest 200 level, as it can test 207 to 210 level resistance. We will consider puts if IWM fails to hold above the 200 level, as it can pull back down to 196 to 194 level support.

Contract Suggestion:
Above 203 or B/T 200 level: 203C 02/11 (1.4K Volume @1.61) or 204C 02/11 (4.2K Volume @1.09)
Below 200 level: 198P 02/11 (3.4K Volume @0.29)

 

 

$AMZN – The stock fell 1.36% during market hours and was down 0.54% after hours. On the daily timeframe, we continue to see the 50DMA (3242.60) act as a dynamic resistance, but AMZN was showing some relative strength but not strong. It did not close near lows despite the market moving much lower. Usually, AMZN would break down further with the market but that wasn’t the case during Thursday’s trading sessions. Keep an eye on the 3188 or backtest 3151 level, as it can test 3200 to 3220 level resistance. Above 3220 level, it can test 3242 (50DMA) to 3275 level resistance. We will consider puts if AMZN fails to hold above the 3151 level, as it can pull back down to 3100 to 3085 (14DMA) level support. Below that can drop further down to 3026 to 3000 level support.

Contract Suggestion:
Above 3188 or B/T 3155 level: 3200C 02/11 (10.8K Volume @17.45) or 3250C 02/11 (7.6K Volume @4.35)
Below 3155 level: 3100P 02/11 (12.3K Volume @5.40)

 

 

$TSLA – The stock fell 2.95% during market hours and was down 0.41% after hours. On the daily timeframe, TSLA is forming a tight coil (compression) for the fast two weeks of trading and has been in a range from 945 to 880 level. Usually, when a stock is in this tight coil, it will make an explosive move in either direction once it expands. Keep an eye on the 915 or backtest 900 level, as it can test 930 to 945 (break out level) resistance. Above 945 can test 964 to 978 (previous strong support now turned resistance). We will consider puts if TSLA fails to hold above the 900 level, as it can pull back down to 880 (must hold support) to 860 level support.

Contract Suggestion:
Above 915 or B/T 900 level: 930C 02/11 (37.3K Volume @3.35)
Below 900 level: 880P 02/11 (17.9K Volume @4.00)

 

 

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