12/10/2021 Watchlist Chart
Watchlist for 12/10/2021
$AMZN – The stock fell 1.13% during market hours but was up 0.10% after hours. On the daily timeframe, AMZN is currently trading within a double inside day with majority of the flow being bullish. Its currently waiting for the CPI data that is going to be released at pre-market on Friday (12/10). CPI data is used to gauge inflation and many analysts are estimating 6.7 but anything above would be bad in terms of an increase in inflation. Keep an eye on the 3500 level or back test 3486 level, if AMZN can break above that level, it can test 3520 to 3534 level resistance. Above 3534 level, it can test 3554 (previous big resistance) to 3573 level resistance. We will consider puts if AMZN fails to hold above the 3486 level, as it can pullback down to 3448 to 3434 level support.
Contract Suggestion:
Above 3500 level: 3550C 12/10 (22.5K Volume @2.63)
Below 3486 level: 3440P 12/10 (1K Volume @7.80)
$MRNA – The stock fell 3.95% during market hours but was up 0.16% after hours. There is a scheduled conference call on Friday (12/10) to discuss phase 1 mRNA flue vaccine which can be a catalyst to move MRNA in either direction. On the daily timeframe, MRNA is holding above the 200DMA (264.62) and holding above the lower trendline despite the daily MACD flipping red. Keep an eye on the 275 level, if MRNA can break above with volume, it can test 280 (20DMA) to 285 level resistance. Above 285 level, it can test 288 (9DMA) to 294 level resistance. We will consider puts if MRNA fails to hold above the 264 level (200DMA), as it can pullback down to 261 to 246 level support.
Contract Suggestion:
Above 275 level: 280C 12/10 (1.7K Volume @2.34)
Below 264 level: 260P 12/10 (1.6K Volume @1.00)
$FDX – The stock traded up 0.20% during market hours and was up 0.02% after hours. On the daily timeframe, FDX has been trading within a tight wedge with their earnings coming up on Thursday (12/16). We continue to see low volume on this tight price action but the 255 level is a key break out level for a leg higher. With the holidays coming up, we can speculate that they would be very busy with online commerce sales requiring shipping. Keep an eye on the 247 level (HOD on Thursday), or back test 245 level, if FDX can break above with volume, it can test 250 to 255 level resistance. Above 255 level, it can test 262 to 265 level resistance. We will consider puts if FDX fails to hold above the 245 level, as it can pullback down to 241 to 239 level support. Below 239 level, it can drop further down to 232 to 227 level support.
Contract Suggestion:
Above 247 or B/T 245 level: 260C 12/17 (588 Volume @2.39)
Below 245 level: 245P 12/10 (279 Volume @1.91)
$COST – The stock fell 1.09% during market hours but was up 1.13% after hours. COST reported positive earnings with guidance over their supply chain issue which is great news for stockholders. For options holders, there may be some IV crush for calls and puts on those weeklies expiration if COST does not move higher or lower pre-market into open. Taking into consideration the afterhours price which was at 530.37, keep an eye on the 530 level, if COST can hold above this level, it can test 537 to 542 level resistance. Above 542 level, it can test 550 to 560 level resistance. We will consider puts if COST fails to hold above the 530 level, as it can pullback down to 525 to 520 level support.
Contract Suggestion:
Above 530 level: 540C 12/10 (2K Volume @3.50)
Below 530 level: 510P 12/10 (3.5K Volume @4.00)
***NEWS TO LOOK OUT FOR THIS WEEK***
- CPI data on Nov 2021 on Friday (12/10) at 5:30am PST/8:30EST
- Federal Budget for November 2021 on Friday (12/10) at 11am EST/2pm EST