8/12/2021 Watchlist Charts
Watchlist for 08/12/2021
$TSY – The stock traded up 2.92% during market hours but was down 0.37% after hours. ESTY was showing relative strength compared to the overall market as evidence by ETSY closing near high of the day. On the daily time frame, ETSY has been forming a “three white soldiers” pattern (bullish pattern) as well as a possible golden cross (where the 50 SMA crosses above the 200 SMA). The daily MACD is close to crossing above with RSI peaking over 50. The only issue would be the volume, as ETSY continues to trade higher, the volume for each day moves lower, signaling a decrease in big players buying in. Keep an eye on the 194 level, if ETSY can break above with volume, it can test 197 to 200 level resistance. I will consider puts if ETSY fails to hold above the 192 level, as it can pullback down to 190 to 185 level support.
Contract Suggestion:
Above 194 level: 200C 08/13 (1.2K Volume @0.95) or 200C 08/20 (1.8K Volume (@3.05)
Below 192 level: 187.5P 08/13 (2.2K Volume @0.68)
$AFRM – The stock traded up 4.67% during market hours but was down 0.77% after hours. AFRM has been trading higher ever since the news with their partnership with AAPL to facilitate financing of AAPL’s products. On the daily time frame, AFRM recently broke out of the wedge but was rejected at the 71 level resistance. Now, AFRM has back tested that break out and held which helps us validate the breakout level. If we continue to see more money moving into financial tech, AFRM would benefit greatly from it. Keep an eye on the 69 level, if AFRM and hold above this level, it can test 71 to 74 level resistance. I will consider puts if AFRM fails to hold above the 68 level, as it can pullback down to 65 to 62 level support.
Contract Suggestion:
Above 69 level: 70C 08/20 (2.8K Volume @2.20)
Below 68 level: 65P 08/20 (292 Volume @1.45)
$UPST – The stock traded up 26.18% during market hours but was down 0.99% after hours. UPST is an Al lending platform that partners with banks to provide personal loans. UPST gapped up after reporting positive earnings and was showing relative strength. On the daily time frame, UPST closed a strong bullish candle as evidence by the long bottom wick where buyer stepped in heavily when it tested that 156 level. Keep an eye on the 172 level, if UPST can break above with volume, it can test 174 to 178 level resistance. Above 178 level, it can test 182 to 192 level resistance. I will consider puts if UPST fails to hold above the 169 level, as it can pullback down to 162 to 160 level support.
Contract Suggestion:
Above 172 level: 175C 08/13(12.4K Volume @3.40) or 180C 08/13 (8.1K Volume @2.20)
Below 169 level: 165P 08/13 (9.1K Volume @1.20)
***News to watch this week ***
- Unemployment claims data on Thursday (08/12) at 5:30am PST/8:30am EST