03/14/2022 Watchlist Chart

03/14/2022 Watchlist Chart

 

Watchlist for Monday, 03/14/2022

$UPST – The stock fell 11.20% during market hours but was up 0.16% after hours. On the daily timeframe, UPST broke down the rising wedge and closed at the low of the day showing relative weakness compared to the overall market. Usually, for breakdowns or breakups, there’s usually a backtest of the level break before continuing the trend. We also continue to see strong volume supporting this breakdown as the majority of them were above average volume with the 50DMA (117.42) curling downward. If the market pulls back, UPST would be a great candidate for puts. Keep an eye on the 105 or backtest 100 level, as can test 114 to 117 (50DMA) level resistance. Above 117 levels, it can test 119 (9DMA) to 120 level resistance. We will consider puts if UPST fails to hold above the 100 level, as it can pull back down to 92 to 89 level support.

Contract Suggestion:
Above 105 or B/T 100 level: 110C 03/18 (1.6K Volume @3.40)
Below 100 level: 95P 03/18 (707 Volume @4.70) or 90P 03/18 (1.3K Volume @ 2.99)

 

 

$TSLA – The stock fell 5.12% during market hours and was down 0.23% after hours. During Wednesday trading sessions, TSLA saw an influx of bearish flow from opening and closed near its low of the day showing relative weakness compared to the overall market. Towards the end of the day, TSLA had a mixture of puts and calls heading into the weekend with some trying to buy the dip with the 815C and some more with the 700P. Overall, TSLA has been trading within a larger flag/ falling wedge with continuous rejection at the top trend-line of those patterns and the 200 DMA (845.36) still acting as a strong rejection level. Over the weekend, Elon Musk tweets that currently “TSLA and SpaceX are seeing significant recent inflation pressure in raw materials and logistics” which could have an impact on how it trades this week. Keep an eye on the 800 level, if TSLA can break above with volume, it can test 819 to 831 (9DMA) level resistance. Above 831 level, it can test 845 (200DMA) to 850 level resistance. We will consider puts if TSLA fails to hold above the 786 or backtest 800 fail, as it can pull back down to 770 to 752 level support. Below that can drop down to 744to 730.

Contract Suggestion:
Above 800 level: 850C 03/18 (17.4K Volume @9.60)
Below 786 or B/T fail 800 level: 730P 03/18 (2.2K Volume @9.45) or 700P 03/18 (17.7K Volume @5.10)

 

 

$AAPL – The stock fell 2.39% during market hours and was down 0.19% after hours. News broke on Sunday that AAPL supplier Foxconn had to shut down their Shenzhen production amid another coronavirus surge that triggered a lockdown. Foxconn is one of the main companies that handles the production of iPhone in China. Currently, the Chinese market is down big from this lockdown news which may affect how AAPL and Asian stocks will open on Monday. On the daily timeframe, AAPL is quickly approaching the 200DMA (153.62) test after breaking down the wedge and confirming the backtest of that breakdown. Keep an eye on the 156 or backtest 153 (near 200DMA) level, as it can test 160 to 163 level resistance. We will consider puts if AAPL fails to hold above 153 level, as it can pull back down to 150 to 145 level support.

Contract Suggestion:
Above 156 or B/T 153 level: 157.5C 03/18 (31.4K Volume @1.98) or 160C 03/18 (67.3K Volume @1.09)
Below 153 level: 150P 03/18 (33.3K Volume @1.70)

 

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

 

  • Producer Price Index (PPI) for February 2022 on Tuesday (03/15) at 5:30 am PST/8:30 am EST
  • FOMC announcement on fed funds rates on Wednesday (03/16) at 11 am PST/2 pm EST with Jerome Powell speaking 30 minutes after at 11:30 am PST/2:30 pm EST
  • Unemployment Claims data on Thursday (03/17) at 5:30 am PST/8:30 am EST
    OPEX on Friday (03/18)

 

 

 

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