04/22/2022 Watchlist Chart
Watchlist for Friday, 04/22/2022
$NVDA – The stock fell 6.05% during market hours and was down 0.46% after hours. MAX PAIN for semis during Thursday’s trading sessions with NVDA completely destroyed. On the daily timeframe, NVDA finally broke down that descending triangle and closed a strong bearish candle showing relative strength as it close near the low of the day. It broke out of the consolidating between 212 to 225 which you can also consider a bear flag as it was down-trending from two-gap downs. Keep an eye on the 200 level, if NVDA fails to hold above this level, it can test 197 to 194 level support. Below that can drop down to 190 to 178 level support. WE would consider calls if NVDA can break above 205 or backtest and hold 200 level, as it can test 208 to 215 level support.
Above 205 or B/T 200 level: 210C 04/22 (28.7K Volume @0.68) or 205C 04/22 (11.7K Volume @2.00)
Below 200 level: 195P 04/22 (9.6K Volume @1.27) or 190P 04/22 (14.1K Volume @ 0.55)
$AMZN – The stock fell 3.70% during market hours. On the daily timeframe, AMZN broke out of the bear flag and closed a strong bearish candlestick pattern with volume. AMZN does report earnings next week, so we may see more downside in AMZN if QQQ continues to sell off. The weekly MACD also flipped red if AMZN closes below the 3000 level. Keep an eye on the 2980 level, if AMZN can break above with volume, it can test 3000 to 3026 level resistance. Above that can test 3054 to 3080 (9DMA) level resistance. We will consider puts if AMZN fails to hold above the 2950 level, as it can pull back down to 2920 to 2900 level support. Below that can drop down to 2880 to 2847 level support. Below that can drop lower to 2927 to 2800 level support.
Above 2980 level: 3050C 04/22 (4.8K Volume @4.95)
Below 2950 level: 2900P 04/22 (6.1K Volume @9.00) – Wide spreads
$FB – The stock fell 6.16% during market hours but was up 0.98% after hours. On the daily timeframe, FB closed two consecutive strong bearish candlesticks with increasing volume which indicates that the sell volume is increasing each day. FB reports earnings next week, so we may see an earnings run-up or an even larger drop depending on its report. Keep an eye on the 190 level, if FB can break above with volume, it can test 200 to 208 level resistance (9DMA). Above 208 level, it can test 211 (50DMA) to 215 level resistance. We will consider puts if FB fails to hold above the 182 or 190 rejection, as it can test 175 to 168 level support.
Above 190 level: 195C 04/22 (12.4K Volume @2.70)
Below 182 or 190 rejection: 185P 04/22 (14.4K Volume @4.05) or 180P 04/22 (23.4K Volume @2.34)
$GOOGL – The stock fell 2.52% during market hours. On the daily timeframe, GOOGL broke down the descending triangle and closed a strong bearish candle with volume. It’s currently holding on by a thread over the 2490 level support which has bounced near here for the past 2 times. GOOGL does report its earnings next week so if this key level can hold, it can be a great entry for an ER run-up. Keep an eye on the 2500 level, if GOOGL can break above with volume, it can test 2516 to 2535 level resistance. Above 2535 level, it can test 2550 to 2570 level resistance. We will consider puts if GOOGL fails to hold above the 2490 level or 2500 rejection, it can test 2476 to 2460 level support. Below that can drop down to 2444 to 2430 level support.
Above 2500 level: 2525C 04/22 (526 Volume @14.10) or 2550C 04/22 (489 Volume @7.20)
Below 2490 level: 2450P 04/22 (751 Volume @10.50) or 2400P 04/22 (907 Volume @4.30)