12/08/2021 Watchlist Chart

12/08/2021 Watchlist Chart

Watchlist for 12/08/2021

$AMZN – The stock closed 2.80% during market hours and was up 0.05% after hours. On the daily timeframe, AMZN broke out of the downtrend today and closed a somewhat bullish candle. The key thing to note is the daily moving averages are curling up with the daily MACD and RSI. The daily volume was decent but not above average. AMZN is setting up for a strong move if we can see a few more continuation bullish candles on the daily. The weekly on AMZN is still within an inside week though. Keep an eye on the 3534 level, if AMZN can break above with volume, it can test 3550 to 3554 (previous hard resistance on the daily) resistance. Above 3354 level, it can test 3573 to 3600 level resistance. We will consider puts if AMZN fails to hold above the 3500 level, as it can pullback down to 3486 to 3469 level support.

Contract Suggestion:

Above 3534: 3600C 12/10 (22.7K Volume @9.45)
Below 3500: 3450P 12/10 (4.2K Volume @13.00) – wider spreads on these puts

 

$AFRM – The stock closed 10.62% during market hours and was up 0.63% after hours. Like UPST, AFRM on the daily had a strong continuation move from its lows on closed above the 9MA (121.29) which gives a strong confirmation of a potential reversal. AFRM is still trading within a downtrend though. Keep an eye on the 124 level (HOD of Tuesday), if AFRM can break with volume, it can test 126 (14DMA) to 132 level resistance. Above 132 level, it can test 140 (50DMA) to 147 level resistance. We will consider puts if AFRM fails to hold above the 121 level (9DMA), as it can pullback down to 118 to 110 supports.

Contract Suggestion:
Above 124: 125C 12/10 (2.6K Volume @2.75) or 130C 12/17 (1K Volume @3.80)
Below 121: 120P 12/10 (1.3K Volume @2.75)

 

$TSLA – The stock closed 4.24% during market hours and was up 0.59% after hours. On the daily timeframe, TSLA is retesting the wedge that it broke down from and was rejected as the bottom trendline of the wedge today. There were rumors of a potential catalyst of China’s delivery numbers of TSLA coming out so this can boost TSLA back above into the wedge. Keep an eye on the 1077 or back test of 1051 level, as it can test 1100 to 1107 level resistance. Above 1107 level, it can test 1128 (previous resistance) to 1144 level resistance. We will consider puts if TSLA fails to hold above the 1051 level, as it can pullback down to 1026 to 1021 level support. Below 1021 level, it can pull back down to 1000 level again.

Contract Suggestion:
Above 1077 or B/T 1051: 1100C 12/10 (74.3K Volume @7.60)
Below 1051: 1000P 12/10 (32.9K Volume @7.40)

 

$COIN – The stock closed 8.81% during market hours but was down 0.01% after hours. COIN gapped up from its lows during Tuesday’s trading sessions and closed a somewhat bullish candle over the 100MA (273.41). If we can see BTC push back to 52k, it can set up for a move back to the 300s. Keep an eye on the 290 level, if COIN can break above with volume, it can test 292 to 298 (50DMA) level resistance. We will consider puts if COIN fails to hold above the 282 level, as it can pullback down 282 to 275 level support.

Contract Suggestion:
Above 290: 300C 12/10 (12.4K Volume @2.05)
Below 282: 280P 12/10 (1K Volume @4.60)

 

$UPST – The stock closed 10.06% during market hours and was up 1.12% after hours. Strong move by UPST on the daily timeframe and closed a bullish candle over the 200DMA (180.00) and 9MA (192.92) which gives a good indication of a reversal. UPST is approaching a key resistance level of 200 that would make it or break it. Keep an eye on the 200 level, if UPST can break above with volume, it can test 205 to 218 level resistance. Above 218 level, it can test 220 to 235 level resistance. We will consider puts if UPST fails to hold above the 192 as it can pullback down to 184 to 180 (200DMA) level support.

Contract Suggestion:
Above 200: 205C 12/10 (3.4K Volume @3.40) or 220C 12/17 (1K Volume @4.40)
Below 192: 190P 12/10 (1K Volume @5.50)

 

 

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