8/23/2021 Watchlist Charts

8/23/2021 Watchlist Charts

 

08/23 Monday Watchlist

 

$NVDA – The stock traded up 5.14% during market hours and was up 0.16% after hours. NVDA was showing relative strength during Friday/’s trading sessions as evidence by the strong bullish engulfing candle close above the key resistance of 208 level. This was the second consecutive day of above average volume trading with daily MACD close to grossing green. Overall, NVDA is close to breaking the ascending triangle pattern on the daily timeframe which will be a very explosive move soon. Keep an eye on the 208 level, if NVDA can hold above this level, it can test 210 to 213 level! resistance. Above 213, it can test 215 to 220 level resistance. We will consider puts if NVDA fails to hold above the 208 level, as it can pullback down to 205 to 200 level support.

Contract Suggestion:

Above 208 level: 215C 08/27 (35.2K Volume @1.83)

Below 208 level: 205P 08/27 (8.5K Volume @3.0)

 

$SNOW – The stock fell 4.57% during market hours and was down 0.42% after hours. SNOW gapped down during Fridays sessions but managed to close a pin bar over the 200DMA and 50DMA on the daily timeframe which shows buyer stepped in to buy the dip before earnings this coming week. Because of the gap down, there’s a nice gap to be filed from 269 to 275 level. If we can see some strength come in on Monday/s trading sessions, this can potential fill the gap to earnings on Wednesday (08/25). Keep an eye on the 269 level, if SNOW can break above with volume, it can test 275 to 278 level resistance. We will consider puts if SNOW fails to hold above the 265 level, as it can pullback down to 260 (50DMA) to 253 level support.

Contract Suggestion:

Above 269 level: 280C 08/27 (11.2K Volume @7.40)

Below 265 level: 250P 08/27 (1K Volume @5.90)

 

$FB – The stock traded up 1.20% during market hours and was up 0.02% after hours. FB was showing relative strength towards the last few hours of Friday’s trading sessions and pushed hard to almost close high of the day at the bell t managed to close a strong bullish continuation candle on the daily timeframe while trading within a larger wedge. It we can see money rotated back into tech; FB is prime for a move to test the top trend line at around 362 level. Keep an eye on the 359 level, If FB can hold above this level, it can test 362 to 366 level resistance. We will consider puts if FB fails to hold above the 359 level, as it can pullback down to 356 to 353 level support.

Contract Suggestion:

Above 359 level: 365C 08/27 (3.4K Volume @1.9)

Below 359 level: 355P 08/27 (1.2K Volume @2.67)

 

$ROKU – The stock traded up 2.29% during market hours and was up 0.17% after hours. ROKU has started to show signs of a bottom after two green candles. ROKU managed to close a bullish pin bar over the high 340s and closed over a key previous resistance of 351 level. The daily MACD moving averages are curling up and RSI hovering over the oversold zone as well. Keep an eye on the 351 level, if ROKU can hold above this level, it can test 362 [200DMA) to 366 level! resistance. We will consider puts if ROKU fails to hold above the 351 level, as it can possibly consolidate or move lower to test 345 to 342 level support.

Contract Suggestion:

Above 351 level: 360C 08/27 (1.7K Volume @6.20)

Below 351 level: 345P 8/27 (703 Volume @7.15)

 

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

  • Unemployment claims data on Thursday (8/27) @8:30 a.m. EST

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