9/16/2021 Watchlist Charts

9/16/2021 Watchlist Charts

 

Watchlist for 09/16/2021

 

$DOCU – The stock traded up 2.12% during market hours and was up 0.49% after hours. After the huge sell off a week prior, DOCU started to show some bounce from lows during Wednesday trading sessions. DOCU was able to bounce from lows at the 264 level and closed a strong bullish pin bar with above average volume. If we see a continuation into Thursday, this can set up for a larger move back to the 50DMA (292.80) again. Keep an eye on the 275 level, if DOCU can break above with volume, it can test 278 to 281 level resistance. We will consider puts if DOCU fails to hold above the 272 level, as it can pull back down to 264 to 261 level support.

Contract Suggestion:

Above 275 level: 280C 09/17 (899 Volume @0.98)

Below 272 level: 270P 09/17 (1.5K Volume @1.84)

 

$LOW – The stock traded up 0.71% during market hours and was up 0.02% after hours. LOW is setting up a nice bull flag on the daily but still lacking enough volume to break this flag. If we see a rotation back into this sector, LOW and HD can have an explosive move. The daily MACD moving averages are close to crossing above and RSI hovering above 55 is setting up for a run. Volume is the key to watch for this break out. Keep an eye on the 206 level, if LOW can break above with volume, it can test 207 to 209 level resistance. We will consider puts if LOW fails to hold above the 205 level, as it can pullback down to 203 to 201 level support.

Contract Suggestion:

Above 206 level: 207.5C 09/24 (195 Volume @1.73)

Below 205 level: 205P 09/17 (240 Volume @1.10)

 

$SNOW – The stock traded up 1.51% during market hours and was up 0.04% after hours. Another strong move from SNOW after validating the 313 level support and managed to close at high of the day with a strong bullish candle. SNOW is near all time high where the 324 level was a major resistance (rejected 3 times in the past). SNOW is on watch at open for a strong move if it can hold above 324 level or back test 319 level as it can test 330 to 335 level resistance. We will consider puts if SNOW fails to hold above the 319 level, as it can pullback down to 315 to 313 level support.

Contract Suggestion:

Above 324 level: 330C 09/17 (1K Volume @1.70)

Below 319 level: 315P 09/17 (624 Volume @1.25)

 

$UPST – The stock traded up 3.74% during market hours and was up 0.59% after hours. Strong move from lows during Wednesday trading session and there were multiple bullish sweeps coming in the 400C’s as well. On the 1hr timeframe, UPST broke out of the wedge and closed near almost high of the day showing relative strength with the market. The 1hr MACD also crossed green with above average volume and closed a bullish pin bar on the daily riding that 9MA. Keep an eye on the 279 level, if UPST can hold above this level, it can test 282 to 287 level resistance. We will consider puts if UPST fails to hold above the 277 level, as it can pullback down to 274 to 272 level support.

Contract Suggestion:

Above 279 level: 290C 09/17 (3.9K Volume @2.70)

Below 277 level: 270P 09/17 (2.9K Volume @2.75)

 

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

  • Unemployment data on Thursday (09/16) at 5:30 am PST/8:30am EST
  • Opex on Friday (09/17) – can see volatility this week
  • Quad-witching day on Friday (09/17)

 

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