10/12/2021 Watchlist Chart

10/12/2021 Watchlist Chart

 

Watchlist for 10/12/2021

 

$SOFI The stock traded up 13.45% during market hours but was down 0.82% after hours. Strong wedge break out for SOFI after JPM issued an upgrade on them. It broke out with above average volume and closed a strong bullish engulfing candle above the 50DMA (17.77). Keep an eye on the 18.5 (Monday’s HOD) or back test of 18 level, as it can test 19 to 20 level resistance. We will consider puts if SOFI fails to hold above the 200DMA (17.77), as it can pullback down to 17 to 16 level support.

Contract Suggestion:

Above 18.5 level: 19C 10/15 (19.1K Volume @0.38) or 20C 11/19 (24.4K Volume @1.23)

Below 17.77 level: 17.5P 10/15 (8.1K Volume @0.25)

 

$NVDA The stock fell 0.65% during market hours and was down 0.32% after hours. NVDA was showing relative strength at open but faded with the market towards the end of the day from highs. the daily timeframe, NVDA was able to hold above the overall daily trendline but the long wick rejection on the daily is concerning with how the overall market closed during Monday’s trading sessions. Keep an eye on the 205 level, if NVDA fails to hold above that level, it can drop down to 203 to 200 level support. Calls look much better 208 or back test and hold 205 level, as it can test 210 to 212 level resistance.

Contract Suggestion:

Above 208 level or back test 205 level: 210C 10/15 (19.3K Volume @1.91)

Below 205 level: 200P 10/15 (6.8K Volume @1.19)

 

$AFRM The stock fell 4.36% during market hours and was down 0.56% after hours. Another rejection near ATH of 147 level and its likely AFRM can continue to consolidate around there or move lower based on market condition. There are multiple gaps to be filled to the downside, so this would be a great put candidate if we see weaker price action for AFRM in the coming days. Keep an eye on the 132 level, if AFRM fails to hold above this level, it can pullback down to 127 to 123 level resistance. Below 123 level, it can pullback down to 120 to 118 level support. Confirmation for calls look much better above ATH of 147 level or 141 level if you want to front run, as it can test 149 level resistance.

Contract Suggestion:

Above 141 level: 145C 10/15 (16.3K Volume @2.50)

Below 132 level: 130P 10/15 (4K Volume @3.60)

 

$MRNA  The stock traded up 0.06% during market hours but was down 0.03% after hours. For the past few trading sessions, MRNA has been in a range between 294 to 316 level with a continuous rejection of the 100DMA (316.68). Surprisingly MRNA was holding up well towards the later half in the day while the market continued to make lower lows. For an easier play, calls above 316 would be better for a continued uptrend and puts would be better below 294 for a continuation of downtrend. But since MRNA is in a range, it could provide a great scalping entry and exits. Keep an eye on the 300 level, if MRNA fails this level, it can pullback down to 294 to 285 level support. Calls look better above 305 or back test 300, as it can test 309 to 313 level resistance. Above 313 level, it should test 316 to 325 level resistance.

Contract Suggestion:

Above 305 or back test 300 level: 315C 10/15 (2.9K Volume @5.90)

Below 300 level: 290P 10/15 (4.4K Volume @3.90)

 

 

***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

 

 

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