12/27/2021 Watchlist Chart
Watchlist for 12/27/2021
$CHWY – The stock traded up 6.28% during market hours but was down 0.03% after hours. On the daily timeframe, CHWY broke out of the ascending triangle above the 57 and managed to close a strong bullish candle. The daily MACD flipped green and currently trading in a larger wedge. Keep an eye on the 60, if CHWY can break above with volume, it can test 62 to 66 level resistance. Consider puts if CHWY fails to hold above 57 as it can pull back down to 54 to 50.
Contract Suggestion:
Above 60 level: 61C 12/31 or 65C 1/21/22
Below 57 level: 57P 12/31
$SNAP – The stock traded up 4.08% during market hours and was up 0.45% after hours. On the daily timeframe, SNAP bounced off the lower channel and managed to close a strong bullish candle and showing relative strength. There were also multiple bullish flows for the 50Cs in January 2022 that came in last Friday. Keep an eye on 49, if SNAP can break above with volume, it can test 51 to 55 level resistance. Consider puts if SNAP fails to hold above 47, as it can pull back down to 45 to 43 level support.
Contract Suggestion:
Above 49 level: 50C 12/31 or 50C 1/21/22
Below 47 level: 45P 12/31
$UBER – The stock traded up 2.07% during market hours but was down 0.05% after hours. On the daily timeframe, UBER bounced off from the double bottom in the larger bull flag and managed to close strong above the 50DMA (42.51). Despite UBER being overextended from the double bottom bounce, there continues to be large bullish flow near the top. The multiple bullish flow indicates a possible break out of that channel as well. Uber got a nice bump from CNBC as one of their final trades section last Friday. Keep an eye on the 44 level (HOD of 12/24) or back test 43 level, as it can test 47 (200DMA) to 50 level resistance. Consider puts if UBER fails to hold above the 42 level, as it can pull back down to 40 to 38 level support. Keep in mind, there’s multiple bullish flow in the 47.5 and 50 strikes in 2022.
Contract Suggestion:
Above 44 level: 45C 12/31 or 47.5C 12/18/22
Below 42 level: 42P 12/31
$GOOGL – The stock traded up 0.34% during market hours but was down 0.01% after hours. On the daily timeframe, GOOGL closed a shooting star pattern off that 2960 level resistance despite showing relative strength at open. The daily MACD flipped green but the easier trade for GOOGL would still be above the 3000 level. So far, we continue to see a double top at that big psychological level of 3000. Keep an eye on the 2960 or backtest 2937, as it can test 2977 to 3000 level resistance. Above 3000 level, it can test 3019 level to 3028 level resistance. Consider puts if GOOGL fails to hold above the 2937 level, as it can pullback down to 3918 to 2900 level support (50DMA).
Contract Suggestion:
Above 2960 or B/T 2937 level: 3000C 12/31
Below 2937 level: 2850P 12/31 – Wide Spread
$AFRM – The stock traded up 0.09% after hours and was up 0.25% after hours. AFRM is setting up for a bit move as it forms a base near the 97 to 101 level range. So far, the 97 level continues to be a strong bounce level as it has bounced there5 times already. Currently, AFRM is still trading within a downtrend, but it just needs a bit of volume to test that trendline and possibly break it. We continue to see bullish flow for the 110 strikes for next year in February 2022. Keep an eye on the 106 backtest 101 level, as it can test 110 to 112 level resistance. Above 112 level, it can test 118 to 124 level. Consider puts if AFRM fails to hold above the 101 level, as it can pullback down to 97 to
92 level support.
Contract Suggestion:
Above 106 or B/T 101 level: 105C 12/31 or 110C 12/31
Below 101 level: 100P 12/31
***NEWS TO LOOK OUT FOR THIS WEEK***
- Unemployment claims data on Thursday (12/30) at 5:30am PST/8:30am EST
- Market will be open half day on Friday (12/31) in observance of New Year’s Eve