11/30/2021 Watchlist Chart

11/30/2021 Watchlist Chart

 

Watchlist for 11/30/2021

$MRK – The stock fell 5.39% during market hours and was up 0.05% after hours. Almost all of vaccine stocks gapped down at open today despite the overall market gapping up. The vaccine sector has been very volatile with the new Omicron covid variant running rampant around the world and has influenced the price action of each stock overall. MRK does have a catalyst on Tuesday (11/30) as they will be receiving the result of their FDA approval request for their COVID-19 approval. If MRK gets approved, its highly likely that MRNA and PFE will take a huge hit on this news. MRK also fell on CITI’s downgrade on them. Should treat this play as a lotto as its highly contingent on this FDA approval. Keep an eye on the 75 level (200DMA), if MRK can break above with volume, it can test 78 to 80 (50DMA) level resistance. We will consider puts if MRK fails to hold above the 74 level, as it can pullback down to 70 to 66 level support.

Contract Suggestion:
Above 75 level: 77C (1.5K Volume @1.10) or 77C 12/17 (1K Volume @1.17)
Below 74 level: 3.9K Volume (3.9K Volume @ 1.10)

 

$GOOGL – The stock traded up 2.35% during market hours and was up 0.12% after hours. On the daily timeframe, GOOGL still has that double top pattern at the 3000 level which continues to be a hard resistance but a breakout level. GOOGL started to show some signs of a rebound after testing and holding above the 50DMA (2851.62) level. Overall GOOGL is still in a downtrend but if GOOGL can close a strong bullish continuation candle on Tuesday, this can set up for a move back to testing 3000 again. Overall, its an easier trade over 3000 but GOOGL was showing relative strength on Monday with volume. Treat GOOGL as a day trade until it can clear the 3000 level. Keep an eye on the 2918, if GOOGL can break above with volume, it can test 2925 to 2937 level. Above 2937 level, it can test 2940 (20DMA) to 2959 level resistance. We will consider puts if GOOGL fails to hold above the 2900 level, as it can pullback down to 2885 to 2869 level support.

Contract Suggestion:
Above 2918 level: 3000C 12/03 (3.2K Volume @5.00)
Below 2900 level: 2850P 12/03 (775 Volume @11.10)

 

$LCID – The stock traded up 6.46% during market hours but was down 0.24% after hours. On the daily timeframe, LCID managed to break out of the downtrend and closed near high of the day showing relative strength. On the weekly timeframe, LCID ha been forming a tight wedge and basing just below the 56-level break. LCID also traded with nice volume on that downtrend break. Keep an eye on the 56 level, if LCID can break above with volume, it can test 58 to 60 level resistance. Above 60 level, it can test 67 to 70 level resistance. We will consider puts if LCID fails to hold above the 53 level, as it can pullback down to 50 to 46 level support.

Contract Suggestion:
Above 56 level: 57C 12/03 (8.8K Volume @1.87) or 60C 12/10 (7K Volume @ 2.64)
Below 53 level: 50P 12/03 (15.7K Volume @0.85)

 

$RBLX – The stock traded up 5.47% during market hours but was down 0.09% after hours. On the daily timeframe, RBLX is currently trading within an inside day pattern and its looking bullish as its consolidating near its previous highs last week. META related stocks were doing well on Monday. Keep an eye on the 130 level, if RBLX can break above with volume, it can test 134 to 137 level resistance. We will consider puts if RBLX fails to hold above the 128 level, as it can pullback down to 126 to 124 level support.

Contract Suggestion:
Above 130 level: 135C 12/03 (3.9K Volume @2.54)
Below 128 level: 125P 12/03 (1.9K Volume @ 2.59)

 

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

  • Unemployment Claims data on Thursday (12/2) at 5:30am 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)

 

 

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