11/02/2021 Watchlist Chart
Watchlist for 11/02/2021
$FB – The stock traded up 1.98% during market hours but was down 0.02% after hours. On the daily timeframe, FB is on day 3 of a bounce and currently trading above the 200DMA (32161) which is bullish in the short term till it can clear the 333 level to move higher, FB continued to show relative strength from the 308 dip after ongoing negative news coming out the past few weeks. Keep an eye on the 330 level or break above 333 level, as the client can test 335 to 338 level resistance. We will consider puts if FB fails to hold above the 330 level, as it can pullback down to 326 to 320 level support.
Contract Suggestion:
Above 333 level or back test 330 level: 335C 11/05 (47.2K Volume 22.95)
Below 330 level: 325P 11/05 (13.8K Volume @2.86)
$SPOT – The stock traded up 3.99% during market hours but was down 0.20% after hours. After breaking out of the weekly wedge last week, we continue to see a strong continuation move for SPOT into this week. It managed to gap up during Monday’s trading sessions and held majority of its gains. Currently its has tested and held above that 300 psychological level, so if it can trade above this level, we can see a move higher. Keep an eye on the 303 level (HOD on Monday) or back test 300 level, as it can test 307 to 313 level resistance. We will consider puts if SPOT fails to hold above the 300 level, as it can pullback down to 291 to 285 level support.
Contract Suggestion:
Above 303 level or back test 300 level: 310C 11/05 (3.8K Volume 2.95)
Below 300 level 295P 11/05 (219 Volume @3.20)
$UPST – The stock traded up 7.05% during market hours and was up 0.43% after hours. Strong move by UPST today after the bearish daily candle from last Friday. It was showing relative strength compared to the overall market and managed to close a strong big bodied bullish candle on the daily. UPST is flagging on the daily timeframe and would be a great move once it can break out of it with volume. Keep an eye on the 347 level (HOD) or back test 334 level, as it can test 357 to 369 level resistance. We will consider puts if UPST fails to hold above the 344 level, as it can pullback down to 339 to 330 level support.
Contract Suggestion:
Above 347 level or back test 334 level: 370C 11/05 (4.3K Volume 4.40)
Below 344 level: 330P 11/05 (546 Volume 06.00)
$TSLA – The stock traded up 8.49% during market hours and was up 0.90% after hours. Another strong move by TSLA with that gamma squeeze past the 1200 level. TSLA has continued to kill shorts and formed a strong bullish candle on the daily timeframe. It showed relative strength compared to the overall market and managed to form new all-time highs. The best entry would be if TSLA can back test and validate the 1200 level before a move higher, but if TSLA doesn’t give that chance, it can test 1219 to 1240 level resistance if it can hold above the 1200 level. Above 1240 level, it can test 1257 to 1280 level resistance. We will consider puts if TSLA fails to hold above the 1200 level, as it can pullback down to 1193 to 1175 level support.
Contract Suggestion:
Above 1219 level or back test 1200 level: 1400C 11/05 (33.5K Volume @5.00)
Below 1200 level: 1100P 11/05 (56.8K Volume 29.60)
***NEWS TO LOOK OUT FOR THIS WEEK***
- FOMC statement on Wednesday (11/03) at 11am PST/2pm EST
- Fed Chairman Jerome Powell press conference on Wednesday (11/03) at 11:30am PST/2:30pm EST
- Unemployment claims data on Thursday (11/04) at 5:30 am PST/8:30am EST
- Non-farm payroll of October 2021 on Friday (11/05) at 5:30 am PST/8:30am EST