11/10/2021 Watchlist Chart

11/10/2021 Watchlist Chart

 

Watchlist for 11/10/2021

 

$MU – The stock traded up 1.38% during market hours but was down 0.08% after hours. On the daily timeframe, MU broke out of the month-long downtrend with volume and so far, holding above the breakout of the flag. I would like a back test of the breakout, but this looks explosive due to increasing volume for continuation. The weekly MACD also flipped green, so better indication of a potential reversal. Keep an eye on the 76 level or back test of 75 level (even better at 72 level -break out of flag level), as it can test 78 to 80 (200DMA) level resistance. Above 80 level, it can test 83 to 87 level resistance. We will consider puts if MU fails to hold above the 75 level, as it can pullback down to 72 to 70 level support.

Contract Suggestion:
Above 76 level or back test 75 level: 76C (5K Volume @1.60) or 80C 12/17 (13.6K Volume @1.77)
Below 75 level: 75P 11/12 (1.6K Volume @0.85)

 

 

$AMZN – The stock traded up 2.50% during market hours but was flat after hours. Strong move by AMZN today as it was showing relative strength compared to the overall market while SPX dipped. On the daily timeframe, it closed a strong bullish candle with above average volume. On the 1hr timeframe, it is forming a mini flag as well. Keep an eye on the 3580 level, if AMZN can break above with volume, it can test 3600 level to 3628 level resistance. Above 3628 level, it can test 3635 to 3659 level resistance. We will consider puts if AMZN fails to hold above the 3573 level, as it can pullback down to 3554 to 3534 level support.

Contract Suggestion:
Above 3580 level: 3700C 11/12 (25.6KK Volume @9.65) or 4000C 11/19 (3.9K Volume @6.00)- Day Trade
Below 3573 level: 3500P 11/12 (7.1K Volume @11.50) or 3480P 11/12 (1K Volume @7.85)

 

 

$TSLA – The stock fell 11.99% during market hours and was down 0.05% after hours. On the daily timeframe, TSLA was showing relative weakness compared to the market and managed to close a strong bearish engulfing candle on the daily. It managed to hold above the 20DMA (1019) but its looking bleak after the Elon Musk tweet of wanting to sell his shares for tax reasons. Did not expect such a stark pullback after an incredible run, but this provides a great opportunity for buy entry. Keep an eye on the 1021 level, if TSLA fails to hold above this level, it can test 1000 level (we should see some buyers step in here, as it was a previous psychological level) to 978 level support. Below 978 level, it can pullback even more down to 965 to 946 level support. We would consider calls at the 1000 level bounce, or if TSLA can break above the 1045 level, as it can test 1077 to 1100 level resistance. TSLA over 1100 would be much better for calls than around these levels.

Contract Suggestion:
Above 1045 level: 1100C 11/12 (71.9K Volume @10.85) or 1120C 11/12 (13K Volume @8.35)
Below 1021 level: 900P 11/12 (43.2K Volume @5.40)

 

 

$TTD – The stock traded up 9.40% during market hours but was down 0.92% after hours. On the daily timeframe, TTD gapped up from positive earnings report and managed to have another continuation day into Tuesday trading sessions. It managed to test previous all time high level (97.28) but was rejected. The weekly timeframe paints a clearer picture of the wedge break out with weekly MACD flipping green to show more continuation towards the upside if market rebounds. Keep an eye on the 97 level, if TTD can break above with volume, it can test 99 to 100 (big psychological resistance). Above 100 level, it can test 105 to 108 level resistance. We will consider puts if TTD fails to hold above the 97 level, as it can pullback down to 92 to 90 level support.

Contract Suggestion:
Above 97 level: 100C 11/12 (69.4K Volume @1.70) or 100C 11/19 (20.1K Volume @2.80)
Below 97 level: 95P 11/12 (4.6K Volume @1.60)

 

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

 

  • Core CPI Data for Oct. 2020 on Wednesday (11/10) at 5:30 am PST/8:30 am EST
  • Federal Budget on Wednesday (11/10) at 11am PST/2pm EST

 

 

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