5/07/2021 Watchlist Charts

5/07/2021 Watchlist Charts

 

5/7 Friday Watchlist

 

$GOOGL – Google is approaching resistance around 2342. It had a decent day today. Google must hold above 2325 for further continuation. If it breaks 2342, it can be set up to see 2370+.

 

 

$ANF – Abercrombie & Fitch recently broke out from a bull pennant and it is sitting at resistance around 41. If it manages to break 41, we can see 42.5, then 44+. They are to report earnings on 5/27 before market open. Based on the unusual options activity, we can likely expect a bullish run leading up to earnings. Look for ANF to break above 41 and maintain it for further continuation into 42 then 44+. 5993 contracts traded for 40C 5/28.

 

 

$TSM – Taiwan Semiconductor Manufacturing had a nice earnings beat recently, and has been consolidating for a while. Massive wedge formed and it is looking like it is getting ready to break out. Typically, the bigger the consolidation and coiling in the wedge, the bigger the momentum if and when it breaks out. If TSM breaks 118, it can be set up to see 120, then 123+ next. 22426 contracts traded for the 122C 5/21 and 13776 traded for 121C 5/21.

 

 

$JNPR – Juniper Network also had a nice earnings beat recently. After a few days of the market digesting their earnings report, it broke out of a key level of resistance around 26.37. Look for JNPR to break above 27.11 and maintain it for further continuation to 28+.14752 in volume traded for 27c 5/21 today.

 

 

Notable earnings before market open – $MRNA, $VIAC, $FVRR, $PENN, $REGN, $W, $EXPI

Notable earnings after market close – $SQ, $ROKU, $PTON, $AMC,$ NET, $BYND, $DBX, $GPRO, $DDOG

 

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