02/28/2022 Watchlist Chart
Watchlist for Monday, 02/28/2022
$AMD – The stock traded up 3.82% during market hours. On the daily timeframe, AMD attempted to break out of the daily downtrend and managed to show relative strength as it closed near the high of the day. Currently, futures are down over 2% due to the ongoing Russia/Ukraine crisis but this may end up being another false breakout. If this isn’t a false breakout, AMD is setting up for a move higher. Keep an eye on the 122 level, if AMD can break above with volume, it can test 125 to 128 (50DMA) level resistance. Above 128 level, it can test 130 (100DMA), to 133 level resistance. We will consider puts if AMD fails to hold above the 120 level, as it can pull back down to 118 to 116 level support.
Contact Suggestion:
Above 122 level: 125C 03/04 (28.4K Volume @1.67)
Below 120 level: 118P 03/04 (2.9K Volume @2.22)
$SE – The stock traded up 11.98% during market hours but was down 0.09% after hours. On the daily timeframe, SE has been trading within a downtrend but has been showing relative strength with the overall market for the last two trading sessions. SE reports earnings on Tuesday (03/01) and the weekly options are pricing in 22pt move in either direction. Similar to how SQ surprised people at their earnings reports, SE has a similar chance to make this move after falling over 70% from its all-time highs. Keep an eye on the 140 level or backtest 135 level, as it can break the daily down trend-line to test 147 to 153 (breakout level). Above 153 level, can test 165 to 170 level resistance. Consider puts if SE fails to hold above the 135 level, as it can pull back down to 132 to 129 level support. Below that can fall further down to 120 to 115 level support.
Contract Suggestion:
Above 140 or B/T 135 level: 150C 03/04 (2.7K Volume @5.90) or 165C 03/04 (378 Volume @ 2.57)
Below 135 level: 130P 03/04 (228 Volume @ 7.45) or 120P 03/04 (471 Volume @4.30) – Premiums HIGH on Calls/Puts for ER
$CRWD – On the daily timeframe, CRWD continues to trade in a tight wedge and the 50DMA (184.95) continues to act as dynamic resistance for a breakout. We may see cyber security stocks move higher due to the ongoing geopolitical conflict. Keep an eye on the 185 (50DMA) or backtest 181 level, as it can break out and test 187 to 194 level resistance. Above 194 level, it can test 200 to 208 level resistance. Consider puts if CRWD fails to hold above the 181 level, as it can pull back down to 176 to 173 level support. Below that can pull back down to 166 to 160 level support.
Contract Suggestion:
Above 185 or B/T 181 level: 190C 03/04 (1.1K Volume @3.05) or 200C 03/04 (4.9K Volume @1.05)
Below 181 level: 175P 03/04 (174 Volume @3.65)
$FB – On the daily timeframe, FB broke above the daily downtrend line but it was with low volume which indicates a possible false break out. It has yet to recapture the 9DMA (212.67) so there’s no confirmation of the uptrend yet. The daily MACD flipped green but RSI is still near the oversold zone. Small RSI bullish divergence but it’s not as noticeable. The easier trade for FB would be once it can close above 215 with volume. Keep an eye on the 212 or backtest 207 level, as it can test 215-224 level resistance. Above 224 level, it can test 228 to 235 level resistance. Consider puts if FB fails to hold above the 207 level, as it can fall right back into the daily downtrend line and test 200 to 190 level support.
Contract Suggestion:
Above 212 or B/T 207 level: 215C 03/04 (13.7K Volume @2.63) or 220C 03/04 (10.4K Volume @1.28)
Below 207 level: 200P 03/04 (8.8K Volume @1.44)
***NEWS TO LOOK OUT FOR THIS WEEK***
- Fed Chairman Jerome Powell Testifies at House Committee on Wednesday (03/02) at 7 am PST/10 am EST
- Unemployment Claims Data on Thursday (03/03) at 5:30 am EST/8:30 am EST
- Fed Chairman Jerome Powell Testifies at Senate Committee on Thursday (03/03) at 7 am PST/10 am EST
- Non-farm Payroll for February 2022 on Friday (03/04) at 5:30 am PST/8:30 am EST