11/03/2021 Watchlist Chart

11/03/2021 Watchlist Chart

 

Watchlist for 11/03/2021

 

$NVDA – The stock traded up 2.22% during market hours and was up 0.37% after hours. Semiconductors sectors continue to hold strong relative to the market with NVDA printing new all time highs. This would be a great day trade or scalp as its at ATH but this would be consider chasing until we get a pullback to validate key resistance levels turning into support levels. Keep an eye on the 267 level (ATH) or back test 263 level, as it can test 270 to 272 level resistance. We will consider puts if NVDA fails to hold above the 263 level, as it can pull back down to 260 to 254 level support.

Contract Suggestion:
Above 267 level or back test 263 level: 270C 11/05 (34.3K Volume @1.66)
Below 263 level: 260P 11/05 (12.8K Volume @2.10)

 

 

$PFE – The stock traded up 4.15% during market hours and was up 0.75% after hours. PFE popped today after reporting strong earnings today and closed a strong bullish candle on the daily timeframe. On the daily timeframe, PFE formed a mini-inverse head and shoulder pattern within a larger wedge pattern and broke out today with strong volume. Keep an eye on the 46 level or back test 45 level, as it can test 47 to 49 level resistance. We will consider puts if PFE fails to hold above the 44 level (200DMA), as it can pullback down to 43 to 41 level support.

Contract Suggestion:
Above 46 level or back test 45 level: 46C 11/19 (5K Volume @0.68)
Below 44 level: 44P 11/12 (1.2K Volume @0.45)

 

 

$MSFT – The stock traded up 1.14% during market hours but was flat after hours. MSFT has continued to show relative strength after their earnings report and continues to make new all-time highs. On the daily timeframe, MSFT has been basing and holding above the 330-level break and validating that has a support level right now. Its currently forming a mini flag as well. Like how NVDA is trading at ATH, treat MSFT the same way. Keep an eye on the 333 level, if MSFT can hold above this level, it can test 340 to 342 level resistance. We will consider puts if MSFT fails to hold above the 333 level, as it can pullback down to 330 to 324 level support.

Contract Suggestion:
Above 333 level: 340C 11/12 (2.9K Volume @1.64)
Below 333 level: 330P 11/05 (6.4K Volume @1.31)

 

 

$AMD – The stock traded up 1.92% during market hours but was down 0.18% after hours. Just like NVDA, AMD managed to print a new ATH level and closed a strong bullish continuation candle with above average volume. Keep an eye on the 128 level (ATH), to test 130 to 134 level resistance. We will consider puts if AMD fails to hold above the 125 level, as it can pull back down to 123 to 122 level support.

Contract Suggestion:
Above 128 level: 129C 11/05 (19.4K Volume @1.36)
Below 125 level: 125P 11/05 (8.3K Volume @0.87)

 

 

$IWM – The stock traded up 0.21% during market hours and was up 0.03% after hours. In the past, November has almost always been a relative strong stock in this month, and it looks like IWM wants to break out of this years long tight consolidation and move higher into the upside. Keep an eye on the 235 level, if IWM can break above with volume, it can test 238 to 240 level resistance. We will consider puts if IWM fails to hold above the 234 level, as it can pullback down to 230 to 227 level support.

Contract Suggestion:
Above 235 level: 238C 11/19 (7K Volume @ 2.44)
Below 234 level: 233P 11/05 (5.8K Volume @1.64)

 

 

***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 5:30am PST/8:30am EST
  • Non-farm payroll of October 2021 on Friday (11/05) at 5:30am PST/8:30am EST

 

 

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