9/08/2021 Watchlist Charts
Watchlist for 09/08/2021
A red day for indexes after all time highs, will it hurt tech?
FB – The stock traded up 1.57% during market hours but was down 0.02% after hours. Strong reversal by FB from its lows to highs during Tuesday’s trading sessions. On the daily timeframe, FB broke out of the daily flag and closed above the key resistance level of 382 level. There were some insider selling after hours, so there might be a possible chance of a dip and rip type of situation at open. Keep an eye on the 382 level, if FB can break above with volume, it can test 384 to 387 level resistance. We will consider puts if FB fails to hold above the 382 level, as it can pullback down to 375 to 370 level support.
Contract Suggestion:
Above 382 level: 385C 09/10 (16.9K Volume @1.81)
Below 382 level: 380P 09/10 (8K Volume @2.12)
SNAP – The stock traded up 1.88% during market hours and was up 0.09% after hours. SNAP was moving well with FB movement during Tuesday/s trading session and traded with above average volume. On the daily timeframe, SNAP broke out of the flag and closed a strong bullish pinbar over the key golden pocket zone for Fibonacci retracement. The daily MACD is closed to crossing above and RSI over 55 is very bullish. Keep an eye on the 77 level, if SNAP can break above with volume, it can test 79 to 81 level resistance. We will consider puts if SNAP fails to hold above the 75 level, as it can pull back down to 73 to 71 level support.
Contract Suggestion:
Above 77 level: 77C 09/10 (5.9K Volume (@1.17) or 80C 09/17 (6.4K Volume (@1.05)
Below 75 level: 75P 09/10 (2.3K Volume @0.73)
DASH – The stock traded up 1.89% during market hours but was down 0.06% after hours. On the daily timeframe, DASH managed to close above a key level of resistance of the 195 level after multiple failed attempts (rejected 5 times).It managed to hold most of its gains despite the day of red for most indexes. If we see a bounce in spy/spx, DASH can really move if it can catch a bit with volume. Keep an eye on the 200 level or back test 195 level, it can test 208 to 217 level resistance. We will consider puts if DASH fails to hold above the 195 level, as it can pullback down to 191 to 186 level support. Contract Suggestion: Above 200 level or back test 195 level: 205C 09/10 (495 Volume @0.94) Below 195 level: 192.5P 09/10 (368 Volume @1.47)
PENN – The stock traded up 3.91% during market hours and was up 0.66% after hours. PENN was showing relative strength compared to the overall market as it managed to close near a key level of resistance break out on a red day for indexes. There were also multiple unusual sweeps for $PENN calls as the NFL starts in two days. On the daily timeframe, PENN also broke out of the wedge and close a strong bullish candle on the daily with above average volume. The RSI just shy below the overbought zone and MACD moving averages pointing higher. Keep an eye on the 85 level, if PENN can break above with volume, it can test 87 to 89 level resistance. Above 89 level, it can test 92 to 96 level resistance. We will consider puts if PENN fails to hold above the 84 level, as it can pullback down to 81 to 78 level support.
Contract Suggestion:
Above 85 level: 86C 09/10 (1.5K Volume (@1.38) or 90C 09/17 (16.3K Volume (@1.46)
Below 84 level: 83.5P 09/10 (756 Volume @1.18)
***NEWS TO LOOK OUT FOR THIS WEEK***
- Unemployment claims data on Thursday (09/09) at 5:30am PST/8:30am EST