9/23/2021 Watchlist Charts
$NVDA – The stock traded up 3.27% during market hours and was up 0.27% after hours. Strong bounce for the semiconductor sector and NVOA closed a strong bullish candle on the daily timeframe. It was showing relative strength since open as it continued to move higher while the market pulled back. It was able to fill the gap from Monday’s gap down and its right at the 220 level which was the previous strong support. Keep an eye on the 220 level, if NVDA can break above with volume, it can test 222 to 225 level resistance. We will consider puts if NVDA fails to hold above the 218 level, as it can pullback down to 215 to 213 level support
Contract Suggestion:
Above 220 level: 222.5C 09/24 (11.25 Volume 1.00) or 225C 10/01 (4.5K Volume 2.29)
Below 218 level: 215P 09/24 (12.SK Volume 0.89)
$NFLX – The stock traded up 3.06% during market hours and was up 0.23% after hours. NFLX was also showing relative strength right out at open as it dipped a bit but continued to trend higher most of the day. On the daily timeframe, NFLX broke the falling wedge pattern and closed above a key support level of 588. The 591 remains a minor resistance thus past week. Keep an eye on the 591 level, of NFLX can break above with volume, it can test 595 to 600 level resistance. The 600-level resistance is a very hard level. We will consider puts if NFLX fails to hold above the 588 level, as it can pullback down to 583 to 575 level support
Contract Suggestion:
Above 591 level: 600C 09/24 (23.1K Volume @2.08)
Below 588 level: 580P 09/24 2.9K Volume @2.30)
$DKNG – The stock fell 0.27% during market hours but was up 0.30% after hours. DKNG fell on leaked news of their potential acquisition of UK-based gaming company Entain (LON:ENT) as the deal would a considerable amount of new common shares and a portion being cash. Shareholders sold off DKNG at that news since the acquisition is quite large and may have considerable impact on the performance of its business moving forward. Many top analysts felt that this sell the news was over-exaggerated on the daily timeframe, DKNG held above the 100MA (51.70) and still traded with above average volume. Its also holding within the golden pocket zone of the Fibonacci retracement. If DKNG can hold between 51 and 53, it’s a great place to get in long swing or common shares. Keep an eye on the 53 level or back test 51 level, as it can test 55 to 56 level resistance, Above 56, it can test 5 to 62 level resistance. We will consider puts if DKNG fails to hold above the 50 level, as it can pullback down to 47 to 45 level support.
Contract Suggestion:
Above 53 level or back test 51 level: 55C 10/01 (1.8K Volume 00.91) – 55C 10/15 (4AK Volume 1,90)
Below 50 level: 49P 10/01 (1K Volume 0.69)
$SNAP – The stock traded up 3.30% during market hours and was up 0.64% after hours. On the daily timeframe, SNAP finally broke the descending triangle and close near highs. The daily MACD flipped green and traded with above average volume. It initially dipped at open due to FB news, but buyers quickly bought that dip. There were also multiple bullish sweeps coming in this past week as well. Keep an eye on the 79 level (it’s a very hard level – Rejected 3 times on the daily, if SNAP can break above with volume, it can test 81 to 83 level resistance. We will consider puts if SNAP fails to hold above the 78 level, as it can pullback down to 75 to 73 level support.
Contract Suggestion:
Above 79 level: 80C 09/24 (8.95 Volume 0.97) or 30C 10/01 (6.36 Volume @2.19)
Below 78 level: 77P 09/24 3.9 Volume 0.89)
***NEWS TO LOOK OUT FOR THIS WEEK***
- Unemployment Claims data on Thursday (09/23) at 5:30am PST/8:30am EST