12/09/2021 Watchlist Chart

12/09/2021 Watchlist Chart

$FB – The stock traded up 2.40% during market hours but was down 0.11% after hours. On the daily timeframe, FB is smack right in the middle of the 50DMA (330.97) and 200DMA (329.89) but managed to close a strong bullish candle. You can also see a double bottom around the 308 level again showing buyers stepped up to push FB higher. Keep an eye on the 333 or back test 330 level, if FB can break above with volume, it can test 335 to 338 level resistance. Above 338 level, it can jump to 342 to 348 level resistance. We will consider puts if FB fails to hold above the 330 level, as it can pullback down to 326 to 320 level support.

Contract Suggestion:
Above 333 or B/T 330 level: 335C 12/10 (43.4K Volume @1.43)
Below 330 level: 325P 12/10 (16.6K Volume @1.25)

$ASAN – The stock traded up 7.67% during market hours and was up 0.24% after hours. On the daily timeframe, ASAN has started to fill the gap from their earnings gap down and closed a strong bullish candle with volume. A key thing to note is that the CEO and many top executives bought the dip as well an added more shares to their portfolios. The gap still needs to be filled up to 88. Keep an eye on the 81 level, if ASAN can break above with volume, it can test 86 (9DMA) to 88 level resistance. Above 88 level, it can test 94 to 98 level resistance. We will consider puts if ASAN fails to hold above the 77 level, as it can pullback down to 73 to 70 (200DMA) level support.

Contract Suggestion: Above 81 level: 85C 12/17 (3.1K Volume @ 2.65) or 90C 12/17 (862 Volume @1.45)Below 77 level: 77P 12/17 (406 Volume @ 2.50)

$HD – The stock fell 1.18% during market hours and was down 0.09% after hours. On the daily timeframe, HD back tested and held the flag break out which would be a great starter entry for another leg higher if it holds. HD has started to pullback after a big rejection twice at the 420 level resistance. If we see a rotation out of tech into staples stocks, HD would be set up for the move to re-test 420 soon. Keep an eye on the 413 level, if HD can break above with volume, it can test 416 to 420 level resistance. We will consider puts if HD fails to hold above the 410 level as it can pullback down to 408 (9DMA) to 406 level support.

Contract Suggestion:
Above 413 level: 415C 12/10 (1.2K Volume @1.40) or 420C 12/17 (648 Volume @2.37)Below 410 level: 407.5P 12/10 (808 Volume @1.77)

$RBLX – The stock traded up 7.58% during market hours and was up 0.86% after hours. On the daily timeframe, RBLX broke out of the falling wedge and closed near highs showing relative strength. On the 1hr timeframe, you can also see the inverse head and shoulder pattern as well which is setting up for a bullish move back to 130 level. If we can continue to see some strength in RBLX, this can set up for a large move back to highs again. Keep an eye on the 125.50 level (HOD on wednesday) or back test 124 level, if RBLX can break above with volume, it can test 130 to 138 level resistance. We will consider puts if RBLX fails to hold above the 124level, as it can pullback down to 120 to 117 level support.

Contract Suggestion:
Above 125.50 or B/T 124 level: 128C 12/10 (1.2K Volume @1.73) or 130C 12/17 (5.6K Volume @4.10)Below 124 level: 120P 12/10 (5K Volume @1.26)

$SNOW – The stock traded up 1.94% during market hours and was up 0.06% after hours. On the daily timeframe, we see an inside bar on SNOW, and it managed to close a bullish candle as well. Like all inside bar patterns, you play calls at the candle high break or puts at the low candle break down. Keep an eye on the 375 level, if SNOW can break above with volume, it can test 386 to 400 level resistance. We will consider puts if SNOW fails to hold above the 367 level, as it can pullback down to 365 (20DMA) to 362 level support.

Contract Suggestion:
Above 375 level: 380C 12/10 (1.1K Volume @ 2.60)
Below 367 level: 360P 12/10 (310 Volume @2.40

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