11/22/2021 Watchlist Chart
Watchlist for 11/22/2021
$FB – The stock traded up 1.95% during market hours and was up 0.09% after hours. On the daily timeframe, FB broke out of the falling wedge and back-tested the break out to close a weak bullish candle. Sellers are still sitting around 350 as FB was quickly sold off last Friday once it tested that level. The 50DMA (338.96) is acting as a dynamic support for FB, so if FB can hold above that, it can re-test 350 level for a move higher. Keep an eye on the 346 level or back test 342, as it can test 350 (100DMA) to 356 level resistance. Above 356, it can test 359 to 366 resistance. We will consider puts if FB fails to hold above 342 as it can pullback down to 338 (50DMA) to 335 level support.
Contract Suggestion
Above 346 or B/T 342: 350C 11/26 (42.7K Volume @3.70) or 355C 11/26 (14.9K Volume @2.36)
Below 342: 335P 11/26 (5.7K Volume @1.80)
$LRCX – The stock traded up 1.37% during market hours but was down 0.02% after hours. On the daily timeframe, LRCX has been trading in a large bull flag but the sellers came in on Friday to push LRCX down from its highs. LRCX has the potential to test close to 700 in a week or two if semiconductors sector holds. Keep an eye on 645, if LRCX can break above with volume, it can test 657 to 661. Above 661, it can test 668 to 674 resistance. We will consider puts if LRCX fails to hold above the 645, as it can pullback to 631 to 623 support.
Contract Suggestion
Above 645: 680C 11/26 (1.4K Volume @1.75) – Wide Spread
Below 645: 6250 11/26 (65 Volume @3.60) – Wide Spread
$TSLA – The stock traded up 3.71% during market hours and was up 0.26% after hours. On the daily timeframe, TSLA closed a very strong bullish candle and its looking like it wants to gap up into Monday’s open. It was showing relative strength towards the latter half of Friday and managed to close near high of the day. It was able to break above the wedge and its looking to test 1200 this week if volume holds high. Keep an eye on the 1144, if TSLA can break above with volume, it can test 1150 (previous support when TSLA was trading near 1200s) to 1168 resistance. Above 1168, it can test 1175 to 1193 resistance. Above that, can test the 1200. We will consider puts if TSLA fails to hold above the 1128, as it can pull back down to 1107 to 1100 support. Below 1100, can drop down to 1091 to 1077 support.
Contract Suggestion:
Above 1144: 1200C 11/26 (36.1K Volume @15.40) or 1250C 11/26 (9.5K Volume @7.50)
Below 1128: 1050P 11/26 (22.8K Volume @10.60)
$CHWY – The stock traded flat during market hours but was up 0.11% after hours. On the daily timeframe, CHWY has been trading within an inverse head and shoulder but forming a cup and handle formation as well. It still needs volume to break out so it may trade within the handle pattern. Keep an eye on 73 or back test 70 (50DMA), as it can test 75 to 79 resistance. Above 79, it can test 80 (200DMA), to 85 resistance. We will consider puts if CHWY fails to hold above the 70, as it can pullback down to 69 to 66 level support.
Contract Suggestion:
Above 73 or B/T 70: 75C 11/26 (2.3K Volume @1.13)
Below 70: 70P 11/26 (116 Volume @0.77)
$MRNA – The stock traded up 4.92% during market hours but was down 1.13% after hours. On the daily timeframe, MRNA started to fill the gap from the two gap downs and its being held up by the 200MDA (256.14) support. Once it can clear 297, it can start to gap fill the first gap down. Keep an eye on the 275 or back test 256 (200DMA), as it can test 285 to 294 resistance. We will consider puts if MRNA fails 256, it can pullback down to 261 to 246 support.
Contract Suggestion:
Above 275: 280C 11/26 (4.5K Volume @3.80)
Below 256: 250P 11/26 (925 Volume @3.40)
***NEWS TO LOOK OUT FOR THIS WEEK***
- Unemployment claims data on Wednesday (11/24) at 5:30 am PST/8:30am EST
- FOMC Minutes on Wednesday (11/24) at 11am PST/2pm EST
- Market is NOT open on Thursday (11/25) in observance of Thanksgiving Holiday
- Half day trading on Friday (11/26)