11/05/2021 Watchlist Chart
Watchlist for 11/05/2021
$CHWY – The stock traded up 8.83% during market hours but was down 0.09% after hours. On the daily timeframe, CHWY has a strong flag break out with volume and closed near high of the day showing relative strength. It still has a small gap to fill from the previous earnings gap down up to 89 level. Keep an eye on the 80 level or back test 79 level, as it can test 82 to 85 level resistance. Above 85 level, it can test 89 to 91 level resistance. We will consider puts if CHWY fails to hold above the 79 level, as it can pullback down to 75 to 73 level support.
Contract Suggestion:
Above 80 or back test 79 level: 80C 11/12 (4K Volume @ 2.48) or 85C 11/19 (2.9K Volume @1.64)
Below 79 level: 78P 11/05 (1.3K Volume @0.53)
$NFLX – The stock fell 2.89% during market hours and was down 0.07% after hours. NFLX right out open showed relative weakness while the market continued to move higher. This ness has made NFLX make new low of day and managed to close a strong bearish candle. NFLX for the past few trading sessions was trading within a double inside day but managed to close lower than the mother candle, so we can start to see some momentum towards the downside for NFLX. Keep an eye on the 665 level, if NFLX fails to hold above this level, it can pullback down to 654 level (20DMA) to 648 level support. Calls look much better above 672 level (9DMA), as it can test 676 to 686 level resistance. Above 686 level, it can test 690 to 695 level resistance.
Contract Suggestion:
Above 672 level: 675C 11/05 (8.4K Volume @2.15) or 680C 11/05 (8.5K Volume @1.36)- Lotto
Below 665 level: 660P 11/05 (2.9K Volume @1.45)
$NVDA – The stock traded up 12.04% during market hours but was down 0.52% after hours. Massive move by NVDA and all of the semiconductor sector which lead the way for the market. NVDA had multiple upgrades which helped it pop today. On the daily timeframe, it gapped up an closed a very strong bullish candle despite harsh rejection at the new ATH level of 313 level. On the weekly, we also see the same thing as the daily with a strong bullish candle on the weekly for possible continuation into next week. On the 4hr timeframe, NVDA recently candle was a gravestone doji which signals a trend reversal, so we should expect some pullback before a move higher. Keep an eye on the 295 level, if NVDA fails to hold above this level, it can test 285 to 277 level support. Calls look much better above 300 level, as it can test 310 to 313 level resistance.
Contract Suggestion:
Above 300 level: 310C 11/05 (78.5K Volume @2.35) or 320C 11/12 (16.4K Volume @5.35_
Below 295 level: 290P 11/05 (40.1K Volume @2.29)
$AMZN – The stock traded up 2.75% during market hours but was down 0.06% after hours. Strong move by AMZN again today after running almost 100pts today and closed a strong bullish candle on the daily. It still has the gap to fill up to 3580 level. On the weekly timeframe, AMZN has been riding that weekly 50MA (3303.63) as a support and managed to close a strong weekly candle with weekly MACD moving averages curling up. AMZN is setting up for a gap fill move soon. Keep an eye on the 3480 level, as it can test 3500 to 3554 level resistance. We will consider puts if AMZN fails to hold above the 3462 level, as it can test 3448 to 3434 level support.
Contract Suggestion:
Above 3480 level: 3500C 11/05 (80.1K Volume @12.00) or 3550C 11/05 (26.8K Volume @3.55)
Below 3462 level: 3430P 11/05 (2.5K Volume @4.45)
***NEWS TO LOOK OUT FOR THIS WEEK***
- Non-farm payroll of October 2021 on Friday (11/05) at 5:30am PST/8:30am EST