9/02/2021 Watchlist Charts

9/02/2021 Watchlist Charts

 

Watchlist for 09/02/2021

$NFLX – The stock traded up 2.26% during market hours and was up 0.01% after hours. Huge break out on NFLX on the monthly timeframe from a large wedge with a monthly MACD crossing green. On the daily, we saw a sharp rejection around the 590 level but held majority of its gains for the day. Keep an eye on the 588 e, if NFLX can break above with volume, you can front run this to 590 resistances. Above 590, it should test 600 (huge psychological level) to 610 level resistance. We will consider puts if NFLX fails to hold above the 579 level, as it can pull back down to 575to 571 level support.

Contract Suggestion:
Above 588 level: 590C 09/03 (27.6K Volume @2.00)
Below 579 level: 570P 09/03 (3.9K Volume @1.18)

 

$MRNA – The stock traded up 3.52% during market hours and was up 0.83% after hours. On the daily timeframe, MRNA has started to trade in a bullish channel and showed signs of relative strength from back testing lows. We also saw an uptick in daily volume but remains below average compared to the daily. MRNA would be a quicker day trade until it can hold above 400 again. Keep an eye or the 39 level, it has tested this level 3 times this past 3 trading sessions and has continued to be a resistance for MRNA to get over. Keep an eye on the 390 level, if MRNA can break above with volume, it can test 400 to 406 level resistance. Above 406, it can test 414 to 419 level resistance. We will consider puts if MRNA fails to hold above the 388 level, as it can pull back down to 384 to375 level support.

Contract Suggestion:

Above 390 level: 400C 09/03 (24.6K Volume @3:00)
Below 388 level: 380P 09/03 (5.9K volume @2.84)

 

$ZM – The stock traded up 0.47% during market hours and was up 0.27% after hours. At open, ZM showed some signs of a bounce after large gap down from earnings report but struggled to hold majority of its gains and ended up closing near low of the day. It was also announced that Cathie Woods bought 56 million shares at Monday’s dip from earnings with about 55.85M in flow today. The big wigs are slowly accumulating shares. In the short term, ZM should at least re-test back 300 to320 range unless it fills the gap up to 340 quickly. Keep an eye on the 290 level if ZM can continue to defend this level, it can test 300 t 313 level resistance. We will consider puts if ZM fails to hold above 290, as it can pull back down to 285 to 275 level support.

Contract Suggestion:

Above 290 level: 300C 09/03 (23K Volume @1.10)
Below 290 level: 285P 09/03 (7.3K Volume @1.45)

 

$BIDU – The stock traded up 5.20% during market hours and was up 0.28% after hours. Asian stocks were showing relative strength compared to the overall market and managed to show onto majority of their gains despite the market pullback at the end of the day. Chinese tech stock rose on Wednesday after news of ANT Group would be linking with multiple Chinese-states owned companies on a plan to form a joint venture that would ease Anť’s patch towards going public in the US market (possible in October 2021). After weeks of selling off, BIDU has started to show a strong bounce and it looks like the bottom was in last week. Tuesday’s daily bullish pin bar was a key for a strong gap up into Wednesday trading sessions as well. Keep an eye on the 16 level, if BIDU can break above with volume, it can test 168 to 171 level resistance. Above 171, it can test 176 to 181 level resistance. We will consider puts if BIDU fails to hold above the 163 level, as it can pull back down to 154 to 151 level support.

Contract Suggestion:

Above 166 level: 170C 09/03 (4.5K Volume @0.64)
Below 163 level: 160P 09/03 (2.2K Volume @0.57)

 

***NEWSTO 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
• Market is closed on Monday (09/06) for Labor day

 

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