04/08/2022 Watchlist Chart
Watchlist for Friday, 04/08/2022
$MSFT – The stock traded up 0.62% during market hours, showing relative strength during the market dip. The flow-on MSFT is very bullish with a positive call/put ratio. Lots of flow into weeklies 302.5Cs and some 305Cs as well. On the daily timeframe, we continue to see 296 acting as strong support as this level bounced the previous day despite the daily MACD flipping bearish. If the market sells off, there’s a chance for it to re-test the daily downtrend line breaks out near that 290 level if border sell-off. Keep an eye on the 303 level, if MSFT can break above with volume, it can test 306 to 309 level resistance. Above 309 level, it can test 312 (100DMA) to 313 level resistance. We will consider puts if MSFT fails to hold above the 300 level, as it can pull back down to 296 (double bottom) to 294 level support.
Above 303 level: 305C 04/08 (7.6K Volume @3.20) or 310C 04/08 (7.2K Volume @1.63)
Below 300 level: 295P 04/08 (1.8K Volume @ 2.59)
$TGT – The stock traded up 5.67% during market hours. When money flowed out of NASDAQ, the majority of the money went into the DOW which has stocks like WMT, TGT, COST, etc. TGT was showing relative strength in a weak market and rebounded strong heading into the close. On the daily timeframe, TGT has been trading within a flag between 230 and 205 level, and it’s looking for a potential break out if it can get enough volume to break that triple top at 230 level. The daily MACD flipped bullish with volume from Thursday. Keep an eye on the 230 level, if TGT can break above with volume, it can test 234 to 236 (200DMA) level resistance. We will consider puts if TGT fails to hold above the 222 level, as it can pull back down to 217 to 208 level support.
Above 230 level: 235C 04/14 (1K Volume @1.60) or 240C 04/14 (1K Volume @0.78)
Below 222 level: 220P 04/14 (1.6K Volume @1.42)
$NVDA – The stock fell 0.82% during market hours. On the daily timeframe, NVDA continues to find resistance under both the 200DMA (243.58) and 50DMA (247.50) which indicates bearish sentiment, but the flow was a bit contradictory as lots of money was flowing into next week’s 250s. The key thing to know is that NVDA continues to hold above the 241 level which was the previous break out level for the past two red days and if NVDA can continue to close above 241 on Friday, it can set up for a bounce back to fill the gap from 253 to 258. Keep an eye on the 244 (200DMA) or backtest 241 level, as it can test 248 (near the 50DMA) to 250 level resistance. Above 250 level, it can test 254 and gap-fill to 258 level. We will consider puts if NVDA fails to hold above the 241 level, as it can pull back down to 236 to 233 level support.
Above 244 or B/T 241 level: 245C 04/08 (54.4K Volume @2.16) or 250C 04/08 (54.3K Volume @0.81)
Below 241 level: 235P 04/08 (30.2K Volume @1.07)
$CRWD – The stock traded up 2.75% during market hours and was up 3.03% after hours. CRWD acquired a DOD contract from the government which popped their stock after hours. CRWD showed relative strength during a weak market during Thursday’s trading sessions which gives an indication something was up. Based on the flow, not many people were aware of this news coming along, as the flow was very mixed between calls and puts. On the daily timeframe, CRWD filled the gap from the previous gap down and is now back testing the flag break down from Tuesday. Keep an eye on the 220 level, if CRWD can break above with volume, it can test 230 (HARD RESISTANCE – also near 200DMA) to 232 level resistance. Above 232 level, it can test 240 to 247 level resistance. We will consider puts if CRWD fails to hold above the 214 or 220 rejections, as it can test 212 (14DMA) to 208 level support.
Above 220 level: 230C 04/14 (909 Volume @2.58) – Wide Spreads
Below 214 level: 210P 04/08 (1K Volume @1.27) – Even Wider Spreads