10/14/2021 Watchlist Chart

10/14/2021 Watchlist Chart

 

Watchlist for 10/14/2021

 

$ROKU – The stock traded up 2.88% during market hours and was up 0.24% after hours. Strong move by ROKU during Wednesday trading session as it managed to close at high of the day relative to the overall market. It managed to close above the key resistance of 329 which has plagued it for the past few trading sessions. Keep in mind, ROKU likes to play tricks and the key to watch out is how it holds up during Thursday’s trading sessions to see a continuation or just another fake out again. Keep an eye on the 329 level, if ROKU can hold above this level, it can test 335 to 341 (50MDA) level resistance. Above 341 level, it should test 345 to 351 level resistance. We will consider puts if ROKU fails to hold above the 329 level, as it can fall right back down to 320 to 318 level support.

Contract Suggestion:

Above 329 level: 335C 10/15 (6.7K Volume @2.75)

Below 329 level: 320P 10/15 (1.8K Volume @1.79)

 

$NFLX – The stock traded up 0.77% during market hours and was up 0.49% after hours. On the daily timeframe, NFLX has been trading within a falling wedge pattern and managed to close a nice pinbar off the 9DMA (623.50). Despite NFLX closing red, buyers stepped up at the 624 level so we can assume that is a solid buyers zone if it gets down there again. If we are able to see the tech sector run into this week, NFLX is setting up to break out and re-test all time highs again. Keep an eye on the 633 level, if NFLX can break above with volume, it can test 635 to 638 level. Above 638 level, it can test 640 to 645 level resistance. We will consider puts if NFLX fails to hold above the 628 level, as it can pullback down to 624 to 617 level support.

Contract Suggestion:

Above 633 level: 640C 10/15 (5.2K Volume @1.97)

Below 628 level: 620P 10/15 (3.2K Volume @2.24)

 

$IWM – The stock traded up 0.47% during market hours and was up 0.17% after hours. IWM has been trading within a range for the longest time, but price action is getting tighter. Its only a matter of time till it can break out of this range. During Wednesday trading sessions, IWM managed to close a bullish pinbar above the 50DMA and 200DMA. This is very bullish. It closed within the golden pocket zone for a good entry to test the top of the range at 227 level. Keep an eye on the 223 level (previous HOD) or back test 222 level, as it can test 223 to 225 level resistance. Above 225 level, it can test 227 to 231 level resistance. We will consider puts if IWM fails to hold above the 222 level, as it can pullback down to 220 to 219 level support. IWM does move slow, so if you are looking to play this, buy a further out expiration that fits your budget.

Contract Suggestion:

Above 223 level or back test 222 level: 226C 10/22 (1.9K Volume @1.24)

Below 222 level: 221P 10/15 (14.3K Volume @0.90)

 

$UPST – The stock traded up 3.56% during market hours and was up 0.57% after hours. Strong continuation moves by UPST off the daily break out and its looking to make new ATH with some correlation of the daily MACD close to crossing above. Keep an eye on the 347 level, if UPST can break above with volume, it can test 357 to 364 level resistance. Above 364 level, it can test 377 to 387 level resistance. We will consider puts if UPST fails to hold above the 344 level, as it can pullback down to 339 to 332 level support.

Contract Suggestion:

Above 347 level: 360C 10/15 (2.6K Volume @2.40)

Below 344 level: 335P 10/15 (1.2K Volume @3.40)

 

***NEWS TO LOOK OUT FOR THIS WEEK***

  • 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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