8/31/2021 Watchlist Charts

8/31/2021 Watchlist Charts

 

Watchlist for 08/31/2021

 

$TSLA – The stock traded up 2.67% during market hours and was up 0.42% after hours. TSLA was showing relative strength compared to the overall market with dips being bought up all day. The daily MACD crossed green with a golden cross on the daily as well. TSLA closed a very strong bullish engulfing candle after breaking out of the ascending triangle pattern. Keep an eye on the 731 level (HOD), if TSLA can break above with volume, it can test 744 to 748 level resistance. Above 748 level, it can test 752 to 767 level resistance. We will consider puts if TSLA fails to hold above the 729 level, as it can pullback down to 717 to 714 level support.

 

Contract Suggestion:
Above 731 level: 760C 09/03 (20K Volume @2.40)
Below 729 level: 720P 09/03 (17.5K Volume @6.30)

 

$ROKU – The stock fell 0.32% during market hours and was down 0.28% after hours. ROKU is setting up for an explosive move soon as it’s been consolidating and holding above the 351 level support. The daily MACD crossed green but volume still continues to be below average. The 200MA is around the 366 level which can act as a dynamic resistance though. If we see a surge in volume come in, ROKU would be in for a great trade soon. Keep an eye on the 361 level (Previous HOD level), if ROKU can break above with volume, it can test 366 (200DMA) to 372 level resistance. Above 372 level, it can test 376 to 380 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 361 level: 370C 09/03 (3.1K Volume @2.80)
Below 351 level: 340P 09/03 (1.1K Volume @2.22)

 

$SNOW – The stock traded up 0.05% during market hours but was down 0.29% after hours. On the daily timeframe, SNOW filled the mini gap from the gap down and closed a bullish pin bar. It has still struggled to close above the psychological resistance level of 300 but was showing relative strength. Its overall still trading within a bull flag and holding above the 292-level support with above average volume. Keep an eye on the 300 level, if SNOW can break above with volume, it can test 307 to 310 level resistance. Above 310 it can test 319 to 323 level resistance. We will consider puts if SNOW fails to hold above the 296 level, as it can pull back down to 294 to 290 level support.

 

Contract Suggestion:
Above 300 level: 310C 09/03 (1.8K Volume @1.75)
Below 296 level: 290P 09/03 (651 Volume @2.70)

 

$TTD – The stock traded up 0.16% during market hours but was down 0.16% after hours. On the daily timeframe, TD has been trading in a strong bullish channel with the typical ” curve price action. We see a golden gross on the daily timeframe, with the daily MACD moving average close to crossing above. Keep an eye on the 82 level, if TTD can break above with volume, it can test 84 to 87 level resistance. We will consider puts if TTD fails to hold above the 80 level, as it can pull back down to 78 to 75 level support.

 

Contract Suggestion:
Above 82 level: 83C 09/03 (736 Volume @0.65)
Below 80 level: 78P 09/03 (216 Volume @0.60)

 

*NEWS TO LOOK OUT FOR THIS WEEK*

  • Unemployment Data Thursday (09/02) at 5:30am PST/8:30am EST
  • Non farm payroll Friday (09/03) at 5:30am PST/8:30am EST

 

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