9/15/2021 Watchlist Charts
Watchlist for 09/15/2021
$SQ – The stock traded up 0.15% during market hours and was up 0.05% after hours. SQ has continued to sell off ever since the rejection at the 275 level a few weeks back. On the daily timeframe, SQ showed some strength at open but faded majority of the day during Tuesday’s trading session and almost close near low of the day. That 251 level has continued to be a tough resistance for it to get over. Keep an eye on the 248 level if SQ can break above with volume, it can test 251 to 254 level resistance as a day trade. Swinging SQ calls look much better above the 500MA (258.56). We will consider puts if SQ fails to hold above the 247 level, as it can pullback down to 244 to 237 (200DMA) level support.
Contract Suggestion:
Above 248 level: 250C 09/17 (10.5K Volume 2.45)
Below 247 level: 240P 09/17 (2.2K Volume 1.53)
$MRNA – The stock traded up 1.90% during market hours and was up 0.54% after hours. MRNA showed relative strength at open but had a sharp intraday reversal. It did manage to dose green but it closed an inverted hammer. MRNA trades like a meme stock so its very volatile, there were often times where it did its own thing despite the market direction during Tuesday’s trading sessions as certain points in the day. Keep an eye on the 430 level, if MRNA can break above with volume, it can test 440 to 454 level resistance. We will consider puts if MRNA fails to hold above the 423 level, as it can pullback down to 419 to 406 level support.
Contract Suggestion:
Above 430 level: 440C 09/17 (16.3K Volume 5.70)
Below 423 level: 410P 09/17 (2.9K Volume 4.50)
$AMD – The stock traded up 0.89% during market hours and was up 0.20% after hours. The semiconductor sector was showing strength towards the beginning of the day with LCRX and NVDA with AMD holding near highs despite the weakness in the market. Unfortunately, it wasn’t as strong towards the bell and AMD managed again to close under the large 106 level that now has turned resistance. I would only swing AMD once it can consistently close above 106 on the daily so treat it as a day trade till then. Keep an eye on the 106 level, if AMD can break above with volume, It can test 107 to 108 level resistance. Above 108 level, it can gamma squeeze up to 110 to 111 level resistance. We will consider puts If AMD remains below 106 with market pull back, as it can test 104 to 102 level support.
Contract Suggestion:
Above 106 level: 107C 09/17 (38K Volume @0.84)
Below 106 level: 105P 09/17 (14.6K volume @1.04)
$MSFT – The stock traded up 0.94% during market hours and was up 0.87% after hours. MSFT shares rose sharply after hours from reports of their $60 billion shares buyback. On the daily timeframe, MSFT was trading in a nice falling wedge and most recently broke out despite closing a doji. Taking into considering the after hours pump, if MSFT can break above the 303 level with volume, it should test 306 to 309 level. We will consider puts if MSFT fails to hold above the 300 level, as it can pullback down to 297 to 294 level support. MSFT does move slow, so if you swing take a few weeks out.
Contract Suggestion:
Above 303 level: 305C 09/17 (14.6K Volume 20.50)
Below 300 level: 297SP 09/17(11.2K Volume @1.36)
***NEWS TO LOOK OUT FOR THIS WEEK***
- Unemployment data on Thursday (09/16) at 5:30am PST/8:30am EST
- Opex on Friday (09/17) – can see volatility this week
- Quad-witching day on Friday (09/17)