04/26/2022 Watchlist Chart
Watchlist for Tuesday, 04/26/2022
On Monday, Markets made a nice recovery later in the day, with a MOC imbalance of $515M buy-side towards the close. Futures are currently slightly up.
ES – Pivot: 4277 | Levels above: 4360/4380 | Levels below: 4240/4220/4206
$GOOGL – The stock traded up 2.87% during market hours. GOOGL is set to report its quarterly earnings on Tuesday (04/26) aftermarket closes with the weekly expiration pricing in a 193 point move in either direction. On the daily timeframe, GOOGL showed a bounce on Monday after three consecutive days of selling off after breaking the descending triangle pattern. If we see a continuation in tech, GOOGL can test 2500 before their earnings at close. GOOGL has beaten the past 7 earnings, with last quarter resulting in a pop with the announcement of their stock split. Caution is advised, as cumulative net premiums lean bearish. Keep an eye on the 2476 level or backtest 2460 level, as it can test 2490 to 2500 level resistance. Above that can test 2516 to 2530 (9DMA) to 2534 level resistance. Above that can test 2550 to 2570 level resistance. We will consider puts if GOOGL fails to hold above the 2460 level, as it can pull back down to 2444 to 2430 level support. Below that can drop down to 2420 to 2400 level support. Below that can pull back down to 2390 to 2374 level support.
Contract Suggestion:
Above 2476 or B/T 2460 level: 2600C 04/29 (1.2K Volume @36.90) or 2800C 04/29 (2.1K Volume @6.30)
Below 2460 level: 2300P 04/29 (380 Volume @ 36.80)
$AAPL – The stock traded up 0.67% during market hours. Right at open, there was a $1.8M put bet on AAPL weekly expiration in the morning with their earnings report due on Thursday (04/26) after the market closes. The weekly expiration is pricing in a 9pt move in either direction. On the daily timeframe, AAPL bounced off the 200DMA (159.08) and closed near the high of the day, almost closing a bullish pin bar. Overall, AAPL has been trading within a larger flag but closing above that 167 level can set up for a move back to the high 170s. Keep an eye on the 165 level or backtest 160 level, as it can test 167 to 171 level resistance. Above 171 level, it can test 173 to 177 (hard resistance). We will consider puts if AAPL fails to hold above the 160 level, as it can pull back down to 159 (200DMA) to 158 level support. Below that can drop lower to 153 level support.
Contract Suggestion:
Above 165 or B/T 160 level: 170C 04/29 (38.1K Volume @1.44) or 165C 04/29 (54.1K volume @ 3.35)
Below 160 level: 155P 04/29 (37.7K volume @ 1.80) or 150P 04/29 (36.4K Volume @ 0.95)
$AMD – The stock traded up 2.89% during market hours and was up 0.34% after hours. Out of most of the semiconductor stocks, AMD is one of the weakness compared to NVDA or TSM which showed better strength. On the daily timeframe, AMD continues to be in an overall downtrend but does have a bullish RSI divergence forming as well. The easier trade for calls would be once AMD can close above that 9DMA (93.80) as it continues to find rejection whenever it tests that moving average. Based on the flow near EOD, more calls came in but nothing too significant. Keep an eye on the 94 (near 9DMA) or backtest 90 levels, as it can test 97 to 100 level resistance. Above 100 level, it should test 102 (20 DMA) to 106 level resistance. We will consider puts if AMD fails to hold above the 90 levels, as it can pull back down to 88 (Friday’s LOD) to 85 level support. Below that can drop down to 81 to 79 level support.
Contract Suggestion:
Above 94 or B/T 90 level: 95C 04/29 (30.1K Volume @1.03) or 93C 04/29 (9.6K Volume @1.69)
Below 90 level: 89P 04/29 (14.7K Volume @ 2.00) or 87P 04/29 (22.8K Volume @1.32)
***NEWS TO LOOK OUT FOR THIS WEEK***
- Consumer Confidence Index on Tuesday (04/26) at 7 am PST/10 am EST for April 2022
- Unemployment Claims Data on Thursday (04/28) at 5:30 am PST/8:30 am EST
- Core PCE Price Index on Friday (04/29) at 5:30 am PST/8:30 am EST