03/11/2022 Watchlist Chart
Watchlist for Friday, 03/11/2022
$AMZN – The stock fell 5.41% during market hours but was down 0.06% after hours. On the daily timeframe, AMZN gapped up after reporting they will stock split 20:1 set in July 2022 with GOOGL. Overall AMZN broke down the wedge during the beginning of the week but with the gap up, it’s back within the wedge again. During Thursday’s trading sessions, AMZN was showing relative strength and almost single-handedly propped the market up when most stocks were down at open. If the market can get enough strength for bulls to take over, AMZN would be a prime candidate for calls from its relative strength. Keep an eye on the 2950 or backtest 2920 level, as it can test 2980 to 3000 level resistance. Above 3000 level, it can test 3026 to 3054 level resistance. Consider puts if AMZN fails to hold above the 2920 level, as it can pull back down to 2900 to 2983 (9DMA) level support.
Contract Suggestion:
Above 2950 or B/T 2920 level: 3000C 03/11 (31.4K Volume @7.55)
Below 2920 level: 2880P 03/11 (2K Volume @ 8.65)
$CRWD – The stock traded up 12.50% during market hours and was up 0.31% after hours. CRWD gapped up after reporting stellar earnings and managed to break out of the daily wedge with huge volume. There is a chance for CRWD to fill the gap below if the market pulls back as currently, futures are down close to 1% now. The best possible scenario would be to see a CRWD hold above this gap up and see a continuation candle with volume for a strong test back to high 200s. Keep an eye on the 194 or backtest 187 level, as it can test 200 to 208 level resistance. Above that can test 212 (100DMA) to 214 level resistance. Consider puts if CRWD fails to hold above the 187 level, as it can pull back down to 181 (near 50DMA) to 179 (9DMA) level support.
Contract Suggestion:
Above 194 or B/T 187 level: 195C 03/11 (7.6K Volume @ 1.80)
Below 187 level: 185P 03/11 (3.8K Volume @1.44)
$JPM – The stock fell 1.18% during market hours but was up 0.03% after hours. During this week, there’s been significant flow in XLF (ETF for financials) heading into FOMC and OPEX next week. Depending on what Jerome Powell says about interest rates, this will greatly impact the financial sector. On the daily timeframe, JPM continues to find rejection near the 9DMA (135.36) so has been holding onto a higher low but the best chance for reversal would be a close above this level. Banks can get a run-up into FOMC if the market cooperates. Keep an eye on the 133 (HOD on Thursday) or backtest 130 level as it can test 135 to 137 level resistance. Consider puts if JPM fails to hold above the 130 level, as it can pull back down to 127 to 124 level support.
Contract Suggestion:
Above 133 or B/T 130 level: 135C 03/18 (563 Volume @1.76)
Below 130 level: 125P 03/18 (803 Volume @1.19)
$AMD – The stock fell 4.13% during market hours and was down 0.19% after hours. On the daily timeframe, AMD continues to be trending within an overall downtrend with multiple rejections at that trend-line. Semis were showing relative strength intraday but only NVDA was the strongest while the others closed red. AMD is approaching a key double bottom level of 100, so we may see another bounce attempt or a big slice through for a lower low. Keep an eye on the 110 or backtest 106 level, as it can attempt another break of the downtrend line to test 114 (200DMA) to 118 (previous break out level) resistance. Consider puts if AMD fails to hold above the 106 level, as it can pull back down to 102 to 100 (double bottom) level support.
Contract Suggestion:
Above 110 or B/T 106 level: 108C 03/11 (19.7K Volume @0.80) or 112C 03/18 (2.8K Volume @1.62)
Below 106 level: 105P 03/11 (23K Volume @0.88)