8/20/2021 Watchlist Charts

8/20/2021 Watchlist Charts

 

08/20 Friday Watchlist

 

$NFLX – The stock traded up 4.18% during market hours but was down 0.01% after hours. On the daily timeframe, NFLX finally broke the falling wedge with incredible volume after consolidating for weeks in a range. We can possibly see another continuation for NFLX if we see tech recovery and move back to all time highs. Keep an eye on the 54 level if NFLX can break above with volume, it can test 550 to 555 level resistance. Above 555, it can test 558 to 563 level resistance. We will consider puts if NFLX fails to hold above the 539 level, as it can test 537 to 530 level support.

Contract Suggestion:
Above 546 level: 550C 08/20 (31.4K Volume @1.75)
Below 539 level: 535P 08/20 (12K Volume @1.02)

 

$NVDA – The stock traded up 3.98% during market hours and was up 0.01% after hours. After reporting earnings, NVDA moved higher after hours but due to the overall market, it gapped down but quickly recovered. It managed to close above the 50DMA (194.48) which is acting as a dynamic support and closed a somewhat bullish doji. If we can continue to see relative strength in NVDA, we may see a continuation to test ATH. We see NVDA trading in a larger ascending triangle pattern. Keep an eye on the 200 level, if NVDA can break above with volume, it can test 205 to 208 level resistance. We will consider puts if NVDA fails to hold above the 197 level, as it can pullback down to 194 to 189 levels support.

Contract Suggestion:
Above 200 level: 202.5C 08/20 (50.2K Volume @0.77)
Below 197 level: 195P 08/20 (29.9K Volume @1.12)

 

$V – The stock fell 0.03% during market hours and was down 0.03% after hours. On the daily timeframe, V has been
trading within a falling wedge pattern (bullish break out pattern), and finally saw some bounce off the 229 level again
and close a strong bullish candle. On the 4hr timeframe, it attempted to break out of the wedge but was rejected off the
200DMA which acted as a dynamic resistance for this time. Keep an eye on the 232 level, if V can break above with
volume, it can test 235 to 238 level resistance. Above 238, it can test 240 to 244 level resistance. We will consider puts if V fails to hold above the 229 level, as it can fall to 224 to 217 level support.

Contract Suggestion:
Above 232 level: 232.5C 08/20 (2.6K Volume @0.85)
Below 229 level: 227.5P 08/20 (469 Volume @0.39)

 

$MSFT – The stock traded up 2.08% during market hours but was down 0.16% after hours. MSFT was showing incredible relative strength compared to the overall market and honestly was MSFT and NFLX pulling its weight for NQ/QQQ during Thursday’s trading sessions. MSFT closed a very strong bullish engulfing candle after back tested the 290 level support after the ascending triangle break out. The daily MACD also crossed green and RSI just below the over bought range. MSFT looks primed to test the elusive 300 level f it can hold above the 290 level into Friday. Keep an eye on the 297 level, if MSFT can break above with volume, it can test 300 to 303 level resistance. We will consider puts if MSFT fails to hold above the 295 level, as it can pullback down to 290 to 286 level support.

Contract Suggestion:
Above 297 level: 297.5C 08/20 (37.6K Volume (@1.20) or 300C 08/20 (50.2K Volume @0.45)
Below 295 level: 295P 08/20(16.6K Volume @0.82)

 

***NEWS TO LOOK OUT FOR THIS WEEK***

  • OPEX on Friday (08/20)

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