12/03/2021 Watchlist Chart
Watchlist for 12/03/2021
$GS – The stock traded up 2.94% during market hours but was down 0.48% after hours. Banks were moving higher during Thursday’s trading sessions as news of potential rate hikes coming next year. Banks make their money on higher rates, so therefore its very beneficial to them. As a result, GS closed a strong bullish candle on the daily timeframe with above average volume. With banks leading the way, we also started to see tech bottoming out as well. On the daily timeframe, GS has been trading within a falling wedge but still needs volume to break out of it. Keep an eye on the 389 level (HOD of 12/02), if GS can break above with volume, it can test 393 to 396 (100DMA) level resistance. Above 396 level, it can test 400 to 405 level resistance. We will consider puts if GS fails to hold above the 385 level, as it can pullback down to 382 to 376 level support.
Contract Suggestion:
Above 389 level: 390C 12/03 (4.6K Volume @2.30) or 400C 12/10 (641 Volume @3.25)
Below 385 level: 380P 12/03 (440 Volume @1.25)
$CVS – The stock traded up 1.36% during market hours and was up 0.01% after hours. On the daily timeframe, CVS has continued to ride that 50DMA (88.85) as dynamic support but has continued to struggle to get above the 91 level resistance as evidenced by two recent long top wick rejections. In the mist of the new COVID variant, big pharma has been benefiting from it. Keep an eye on the 91 level, if CVS can break above with volume, it can test 93 to 95 level resistance. We will consider puts if CVS fails to hold above the 88 level (50DMA), as it can pullback down to 87 to 86 level support.
Contract Suggestion:
Above 91 level: 93C 12/10 (236 Volume @0.78)
Below 88 level: 87P 12/10 (85 Volume @0.84)
$PYPL – The stock traded up 4.37% during market hours but was down 0.26% after hours. After weeks of selling off, buyers started to step in around the 179 level and popped with the help of CNBC during Thursday’s trading sessions. On the daily timeframe, it’s still trading within an inside day pattern but the volume and MACD flipping green is encouraging of a possible trend reversal. A better confirmation of reversal is one PYPL can close above the 9DMA (189.34). Keep an eye on the 189 level, if PYPL can break above with volume, it can test 191 to 196 level resistance. Above 196 level, it can test 200 to 210 level resistance. We will consider puts if PYPL fails to hold above the 187 level, as it can pullback down to 184 to 179 level support.
Contract Suggestion:
Above 189 level: 195C 12/10 (2.9K Volume @2.45) or 200C 12/10 (9.2K Volume @1.43)
Below 187 level: 180P 12/10 (1.7K Volume @2.87)
$COIN – The stock fell 3.32% during market hours and was down 0.08% after hours. On the daily timeframe, COIN is breaking down that falling wedge pattern and showed relative weakness compared to the overall market. COIN managed to close near low of the day after slicing through the 50DMA (295.96) with volume. If the market pulls back, COIN would be a prime candidate for puts as well as BTC movement. Keep an eye on the 282 level, if COIN fails to hold above this level, it can pullback down to 275 to 272 (100DMA) level support. Below 272 level, it can test 262 to 252 level support. We would consider calls if COIN can break above 292 with volume, as it can test 295 to 300 level resistance. Above 300 level, it can test 308 to 314 (14DMA) level resistance.
Contract Suggestion:
Above 292 level: 295C 12/03 (433 Volume @1.45) or 310C 12/10 (360 Volume @3.30)
Below 282 level: 280P 12/03 (1.3K Volume @ 2.85)
***NEWS TO LOOK OUT FOR THIS WEEK***
- Non-farm payroll for November 2021 on Friday (12/3) at 5:30 am PST/8:30am EST
- Ongoing news on the Omicron (new variant of COVID-19)