8/18/2021 Watchlist Charts
08/18 Wednesday Watchlist
$ROKU – The stock traded up 0.13% during market hours but was down 0.24% after hours. ROKU validated the 351 level this morning with the bounce but was rejected harshly at the 366 level and the 200DMA(360.49) which still acts as a dynamic resistance. When a stock trades under 200DMA, its still bearish. It was showing relative strength at open but failed to hold most of its gains. Keep an eye on the 360 level (200DMA), if ROKU can break above with volume, it can test 363 to 366 level resistance. Above 366 level, it can test 372 to 376 level resistance. We will consider puts if ROKU fails to hold above the 351 level, as it can pullback down to 345 to 340 level support.
Contract Suggestion:
Above 360 level: 370C 08/20 (12.3K Volume @3.90)
Below 351 level: 340P 08/20 (1.4K Volume @2.82)
$SE – The stock traded up 6.12% during market hours but was down 0.01% after hours. SE did a huge fake out after killing earnings but gaping down at open and then proceeded to face rip to make new all time highs of 317. We also continue to see some relative strength holding up towards close and still holding a strong bullish channel. Keep an eye on the 311 level if SE can break above with volume, it can test 317 to 320 level resistance. We will consider puts if SE fails to hold above the 305 level as it can pullback down to 302 to 300 level support.
Contract Suggestion:
Above 311 level: 320C 08/20 (2.8K Volume @3.00)
Below 305 level: 300P 08/20 (966 Volume @4.05)
$PYPL – The stock fell 2.58% during market hours and was down 0.19% after hours. PYPL had another strong bounce off the 27: level support which has held 4 times thus far on the daily time frame. On the 4hr time frame, PYPL formed a small in bar following that 270 level but was held down by the 200DMA on the 4hr (271.31) which is acting as a dynamic resistance so far. If we see money rotate into tech, PYPL can rally above the 270 level. Keep an eye on the 271 level. If PYPL can continue to hold above this level of back test 270 level again, it can test 275 to 277 level resistance. We will consider puts if PYPL fails to hold above the 270 level, as it can pullback down to 263 to 260 level support.
Contract Suggestion:
Above 271 level: 275C 08/20 (5.8K Volume @1.32)
Below 270 level: 265P 08/20 (1.4K Volume @1.08)
$MRNA – The stock traded up 7.49% during market hours but was down 0.26% after hours. New came out at open that MRNA will be starting human trials on their mRNA-based HIV vaccines this week which caused the huge jump in price action. In the coming days, the Biden administration will be discussing the possibility of a 3″3 booster shot for the Covid-19 vaccine which will greatly influence MRNA revenue. On the daily timeframe, MRNA broke out of the falling wedge after closing a hammer on the daily over the key 356 level support. It managed to close a strong bullish engulfing candle with above average volume on the daily with tells us bulls are in control. Keep an eye on the 402 level (resistance on the 1hr), if MRNA can break above with volume, it can test 412 to 420 level resistance. Above 420, it can test 430 to 455 level resistance. We will consider puts if MRNA fails to hold above the 400 level, as it can pullback down to 389 to 381 level support.
Contract Suggestion:
Above 402 level: 420C 08/20 (22.4K Volume @6.50)
Below 400 level: 390P 08/20 (9.4K Volume @8.15)
***NEWS TO LOOK OUT FOR THIS WEEK***
- FOMC minutes on Wednesday (08/18) at 11am PST/2pm EST
- Unemployment Jobs Data on Thursday (08/19) @ 5:30am PST/8:30am EST
- OPEX on Friday (08/20)