10/11/2021 Watchlist Chart
Watchlist for 10/11/2021
$DIS – The stock fell 0.55% during market hours and was down 0.05% after hours. On the daily timeframe, DIS has been consolidating within a range between 175 to 186 level for the past few months and still has a small gap to fill from the previous gap up last week. If we are able to see a pullback, DIS is likely will fill that gap down from 176 down to 175 level. The interesting thing for DIS is that daily MACD crossed green with low volume but RSI still remains flat under 50. DIS reports earnings on Wednesday (11/10), and many analysts are expecting revenue to move higher with their marvel movies (the eternals – coming out the beginning of Nov.), DIS+ subscription numbers, and re-opening of their theme parks in all regions. Keep an eye on the 176 level, if DIS can back test and hold above this level, it should test 179 to 180 level resistance (200 DMA). We would consider puts if DIS fails to hold above the 175 level, as it can pullback down to 172 to 169 level support.
Contract Suggestion:
Above 176 level: 177.5C 10/15 (2.9K Volume @1.85) or 180C 10/15 (8.7K Volume @0.95)
Below 175 level: 175=2.5P 10/15 (1.1K Volume @0.79)
$ROKU – The stock fell 0.34% during market hours and was down 0.04% after hours. On the daily timeframe, ROKU managed to hold above the breakout of the falling wedge relative to the overall market which is a positive sign for a potential reversal soon. We also see a bullish RSI divergence on the daily timeframe as well as the RSI was making higher lows while the market was making lower lows. Keep an eye on the 329 level or back test 323 level, as ROKU is setting up for a larger move in the coming weeks if not days. If ROKU can break above and hold those levels, it should test 335 to 342 level resistance. Above 342 level, it can test 345 to 347 level (50DMA) resistance. We will consider puts if ROKU fails to hold above the 322 level, as it can pullback down to 318 (14DMA) to 309 level support.
Contract Suggestion:
Above 329 level or back test 322 level: 335C 10/15 (1.16 Volume @3.75)
Below 322 level: 315P 10/15 (323 Volume @4.80)
$GM – The stock traded up 3.77% during market hours and was up 0.03% after hours. Strong move by GM the past two trading days after testing and breaking above the 100DMA (55.27) which as acted as a dynamic resistance on the daily timeframe. GM continues to have news that was able to push its price up for the past few weeks. Keep an eye on the 59 level, if GM can break above with volume, it can test 61 to 63 level resistance. We will consider puts if GM fails to hold above the 58 level, as it can pullback down to 57 to 56 level support.
Contract Suggestion:
Above 59 level: 60C 10/15 (15.9K Volume @0.55) or 60C 10/22 (4.3K Volume @0.92)
Below 58 level: 58P 10/15 (3.5K Volume @0.82)
$U – The stock traded up 0.11% during market hours but was down 0.46% after hours. On the weekly timeframe, U has been forming the handle portion on the cup and handle break out pattern. You can see the handle forming clearer once you switch to the daily timeframe where it was rejected right at the top trendline of the handle. The daily MACD moving averages are close to crossing above but RSI is stalled above 50 so far. It still needs a bit more volume to break this handle. Keep an eye on the 136 level, if U can hold above this level, it can test 138 to 139 level. Above 139 level, it can test 142 to 144 level resistance. We will consider puts U fails to hold above the 136 level, as it can pullback down to 134 to 131 level suppose.
Contract Suggestion:
Above 136 level: 140C 10/15 (709 Volume @2.05)
Below 136 level: 135P 10/15 (252 Volume @3.10)
***NEWS TO LOOK OUT FOR THIS WEEK***
- FOMC minutes on Wednesday (10/13) at 11am PST/2pm EST
- Unemployment Data on Thursday (10/14) at 5:30am PST/8:30am EST
- OPEX on Friday (10/15) – Expect volatility this week