11/29/2021 Watchlist Chart
Watchlist for 11/29/2021
$FB – The stock fell 2.33% during market hours but was flat after hours. Overall, the market was showing relative strength at the close of last Thursday trading session but with news of the new COVID-19 Variant running rampant in South America which prompted a quick response from WHO on limiting travels to that area. This is what caused the market to drop drastically after hours which resulted in many stocks closing lows. At the moment, futures are up almost or over 1% so likely will see a gap up if market holds theses overnight gains. On the daily timeframe, FB closed a bearish candle but managed to hold above the 333 level support which has held the past two sessions last week. Keep an eye on the 333 level, if FB can hold above this level or break 335 level, it can test 338 to 342 level resistance. We will consider puts if FB fails to hold above the 333 level, as it can pullback down to 327 (200DMA) to 320 level support.
Contract Suggestion:
Above 335 or B/T 333 level: 345C 12/03 (4.5K Volume @2.82)
Below 333 level: 325P 12/03 (3.6K Volume @4.10)
$NVDA – The stock fell 3.58% during market hours and was down 0.01% after hours. On the daily timeframe, NVDA trading within a inside day candle with an unfinished gap to fill down to 305 level from the previous gap up from earnings report. Despite the daily MACD flipping red and RSI dipping under overbought zone, playing the inside day is tricky. Would go calls if it breaks above the previous candle’s high and puts if it breaks below the previous candle’s low with volume. But downside would be better as it still has to fill the gap. Keep an eye on the 317 level, if NVDA can break above with volume, it can test 323 to 328 level resistance. We will consider puts if NVDA fails to hold above the 313 level, as it can pullback down to 310 to 306 level support.
Contract Suggestion:
Above 317 level: 330C 12/03 (6.7K Volume @4.20)
Below 313 level: 300P 12/03 (4.6K Volume @4.10)
$AFRM – The stock traded up 3.19% during market hours but was down 0.56% after hours. AFRM was also another stock that was showing relative strength despite the market dip. On the daily timeframe, we are seeing the three white soldiers pattern forming but would be a better confirmation once it can close above the 50DMA (139.93). Keep an eye on the 137 level, if AFRM can break above with volume, it can test 140 to 142 level resistance. Above 142 level, it can test 147 to 149 level resistance. We will consider puts if AFRM fails to hold above the 132 level, as it can pullback down to 130 to 124 level support. Below 124 level, it can pullback down to 120 to 118 level support.
Contract Suggestion:
Above 137 level: 140C 12/03 (2.9K Volume @4.70)
Below 132 level: 130P 12/03 (281 Volume @3.30)
$UPST – The stock traded up 0.87% during market hours and was up 0.75% after hours. UPST was one of the few stocks that closed green despite the market pulling back showing relative strength. On the daily timeframe, UPST has started to bottom out around the 191 level after it closed a bullish engulfing candle over the pinbar the prior day. We did see a second day of continuation after the bullish engulfing but would need to close above the 9DMA for confirmation of a reversal. Keep an eye on the 213 level, if UPST can break above with volume, it can test 218 to 222 level (9DMA) resistance. Above 222 level, it can test 235 to 238 (14DMA) level resistance. We will consider puts if UPST fails to hold above the 200 level, as it can pull right back down to 191 to 184 level support.
Contract Suggestion:
Above 213 level: 220C 12/03 (981 Volume @ 6.30)
Below 200 level: 185P 12/03 (117 Volume @ 2.55)
*** NEWS TO LOOK OUT FOR THIS WEEK***
- Unemployment Claims data on Thursday (12/2) at 5:30 am PST/8:30am EST
- Non-farm payroll for November 2021 on Friday (12/3) at 5:30am PST/8:30am EST
- Ongoing news on the Omicron (new variant of COVID-19)