9/20/2021 Watchlist Charts
Watchlist for 09/20/2021
$SNAP – The stock traded up 3.15% during market hours but was down 0.28% after hours. SNAP was showing relative strength in a weak market. On the daily timeframe, it’s been trading in a descending triangle pattern and was close to breaking out during last Friday’s trading sessions but was rejected by the top trendline despite trading with above average volume. The daily MACD moving averages are close to crossing above and RSI holding above 50. Keep an eye on the 50 level, if SNAP can break above with volume, it can test 77 to 79 level resistance. We will consider puts if SNAP fails to hold above the 74 level, as it can pullback down to 73 to 71 level support.
Contract Suggestion:
Above 75 level: 76C 09/24 (1.3K Volume @1.41)
Below 74 level: 73P 09/24 (1K Volume @1.17)
$APPS – The stock traded up 5.86% during market hours but was down 0.01% after hours. APPS was another stock that was showing relative strength in a weak market. APPS broke out of the wedge on the daily timeframe and closed just above the 200DMA (66.72), which is very bullish. Keep an eye on the 67.50 level (Friday’s candle HOD), if APPS can break above with volume, it should test 71 to 77 level resistance. We will consider puts if APPS fails to old above the 65 level, as it can pullback down to 63 to 61 level support.
Contract Suggestion:
Above 67.5 level: 68C 09/24 (382 Volume @1.80)
Below 65 level: 64P 09/24 (154 Volume @1.15)
$FUBO – The stock traded up 2.65% during market hours but was down 0.71% after hours. On the daily timeframe, FUBO has been trading in a tight wedge and managed to bounce and close near high off its 50DMA (27.47). FUBO is setting up to test the top trendline if it gets enough volume. Keep an eye on the 28.40 level, if FUBO can break above with volume, it can test 29 to 29.50 level resistance. We will consider puts if FUBO fails to hold above the 28 level, as it can pullback down to 27.47 (50DMA) to 27 level support.
Contract Suggestion:
Above 28.40 level: 29C 09/24 (2K Volume @0.65)
Below 28 level: 28P 09/24 (619 Volume @0.86)
$TWST – The stock traded up 6.91% during market hours but was flat after hours. TWST recently broke out of the downtrend and its likely will test the previous week high of (123.66) level. Its setting up for a great swing based on the weekly as well. Keep an eye on the 123.66 level, if TWST can break above with volume, it can test 129 (200DMA) to 136 level resistance. We will consider puts if TWST fails to hold above the 120 level, as it can pullback down to 117 to 115 level support. – Widespread on options, better with shares
Contract Suggestion:
Above 126.33 level: 130C 10/15 (1 Volume @6.80)
Below 120 level: 115P 10/15 (16 Volume @7.00)
$SHOP – The stock traded up 0.70% during market hours but was down 0.02% after hours. On the daily timeframe, SHOP had a nice break out and managed to close near high of the day in a weak market. It broke out of the falling wedge and it’s setting up for a 30-50pt move. Keep in mind that SHOP weekly premiums are very volatile, to treat it as a scalp. Keep an eye on the 1486 level, if SHOP can break above with volume, it can test 1500 to 1513 level. Above 1513 level, it can test 1522 to 1536 level resistance. We will consider puts if SHOP fails to hold above the 1475 level, as it can pullback down to 1469 to 1452 level support.
Contract Suggestion:
Above 1486 level: 1500C 09/24 (393 Volume @21.40)
Below 1475 level: 1450P 09/24 (205 Volume @14.10)
***NEWS TO LOOK OUT FOR THIS WEEK***
- FOMC statement on Wednesday (09/22) at 11am PST/2pm PST
- Fed Chair Jerome Powell news conference on Wednesday (09/22) at 11:30am PST/2:30pm PST
- Unemployment Claims data on Thursday (09/23) at 5:30am PST/8:30am EST @everyone