12/21/2021 Watchlist Chart
Watchlist for 12/21/2021
$ROKU – The stock fell 3.55% during market but was up 0.42% during market hours. On the daily timeframe, ROKU continues to struggle at the 239 level as it’s been rejected multiple times and closed near low of the day showing relative weakness. ROKU has been difficult to play in general as usually on days with upgrades or positive catalyst, its moves extremely well but then have a poor continuation day the next. Its best to treat ROKU as a day trade until it can string together 2-3 strong bullish daily candle to show some signs of a trend reversal as its still in an overall downtrend. Keep an eye on the 230 level, if ROKU can break above with volume, it can test 239 (hard resistance) to 250 level resistance. We will consider puts if ROKU fails to hold above the 224 level, as it can pullback down to 219 to 210 level support.
Contract Suggestion:
Above 230 level: 240C 12/23 (7K Volume @2.98)
Below 224 level: 220P 12/23 (1.2K Volume @3.85)
$ABNB – The stock fell 0.43% during market hours but was up 0.11% after hours. On the daily timeframe, ABNB has been forming an inside day pattern and was showing relative strength as it closed near high of the day. On the 1hr timeframe, ABNB has been forming an ascending triangle pattern with a big break above 159 for a 6 point move higher. If we can see ABNB show strength on а Tuesday, its prime for a nice move back to the 160s. Keep an eye on the 159 level, if ABNB can break above with volume, it can test 165 to 170 (100MA on the 1hr). Above 170 level, it can test 175 to 179 level resistance. We will consider puts if ABNB fails to hold above the 156 level, pull back down to 154 to 152 level support.
Contract Suggestion:
Above 159 level: 165C 12/23 (2.1K Volume @0.95)
Below 156 level: 152.5P 12/23 (815 Volume @1.84)
$SNOW – The stock fell 0.38% during market hours but was up 1.04% after hours. On the daily timeframe, SNOW has been trading within an inside day pattern and has the support of the 100DMA (325.84). SNOW was showing relative strength most of the day but lost a few gains towards the bell. On the weekly timeframe, SNOW is setting up for an explosive move, its currently forming the handle in the cup and handle pattern but needs some volume for buyers to step in. Keep an eye on the 335 level, if SNOW can break above with volume, it can test 338 to 344 (9DMA) level resistance. Above 344 level, it can test 352 to 362 level resistance. We will consider puts if SNOW fails to hold above the 329 level, as it can pullback down to 325 (100DMA) to 319 level support.
Contract Suggestion:
Above 335 level: 340C 12/23 (379 Volume @4.80) or 370C 12/31 (713 Volume @2.85)
Below 329 level: 320P 12/23 (371 Volume @4.60)
$NKE – The stock fell 2.71% during market hours but was up 3.82% after hours. NKE reported positive earnings after hours and currently is up almost 6pts after hours despite with supply chain issues. Based on after hours price action, NKE is currently forming a flag on the 1hr timeframe with a key break above 165 for a move higher. Keep an eye on the 165 level, if NKE can break above with volume, it can test 168 to 170 level resistance. Above 170 level, it can test 172 to 176 level resistance. We will consider puts if NKE fails to hold above the 162 level, as it can pullback down to 160 to 158 level support. Premiums were leaning puts into ER.
Contract Suggestion:
Above 165 level: 170C 12/23 (4.8K Volume @1.75)
Below 162 level: 150P 12/23 (5K Volume @3.45)
***NEWS TO LOOK OUT FOR THIS WEEK***
- Biden to speak on Omicron on Tuesday (12/21)- TBD on specific time
- Unemployment Data Claims on Thursday (12/23) at 5:30am PST/8:30am EST
- Core Inflation Data on November 2021 on Thursday (12/23) at 5:30am EST/8:30am EST
- Market is closed on Friday (12/24) in observance of the Christmas Holiday.