9/28/2021 Watchlist Charts

9/28/2021 Watchlist Charts

 

Watchlist for 09/28/2021

 

$SHOP – The stock fell 0.01% during market hours and was down 0.02% after hours. The dip was bought up when it tested and held above the 100DMA (1413.22). It almost closed a bullish pin bar near close but pulled back 30min at the closing bell. If we see some more volume come in for a continuation, SHOP can be a great scalp. Keep an eye on the 1452 level, if SHOP can break above with volume, it can test 1469 1486 level resistance. Above 1486, it can test 1500 to 1510 level resistance. We will consider puts if SHOP fails to hold above the 1441 level, as it can pull back down to 1431 to 1413 level support.

Contract Suggestion:
Above 1452 level: 1500C 10/01 (1.9K Volume @6.30)
Below 1441 level: 1400P 10/01 (386 Volume @7.90)

 

MACD starting to decline

 

$TSLA – The stock traded up 2.19% during market hours but was down 0.61% after hours. Strong continuation breaks out from the wedge from last Friday with the MACD flipping green on the daily timeframe. If we see a continuation in volume and momentum on TSLA, it can set up for a large move above the large psychological level of 800. Keep an eye on the 800 level or back test of the 791 level, as it can test 819 to 835 level resistance. We will consider puts if TSLA fails to hold above the 791 level, as it can pullback down to 786 to 770 level resistance. That 770 has been tested last week where buyers stepped up, this can be another great dip entry price if it gets there again.

Contract Suggestion:
Above 800 level or back test 791 level: 810C 10/01 (29.7K Volume @6.50)
Below 791 level: 770P 10/01 (19.8K Volume @9.20)

 

$GS – The stock traded up 2.29% during market hours but was flat after hours. Banks were showing relative strength at market open, and GS managed to close above the 50DMA (395.11) and base above a key level of resistance to break out for a move higher. Its currently holding in between the golden pocket zone of the Fibonacci level and if we can get some money rotating into financials, this can break higher. Keep an eye on the 400 level if we see a continuation, as it can test 402 to 405 level resistance. We will consider puts if GS fails to hold above the 396 level, it can test 393 to 390 level support.

Contract Suggestion:
Above 400 level: 405C 10/01 (11.8K Volume @2.20)
Below 396 level: 395P 10/01 (681 Volume @2.59)

 

$NIO – The stock traded up 3.93% during market hours but was down 0.19% after hours. On the daily timeframe, NIO has been trading in a wedge but has continually bounced and tested the bottom trendline (near the 34 level). A large catalyst for NIO would be their September delivery numbers set to release Thursday morning at 4am PST which can shoot this past 40. Keep an eye on the 37 level, if NIO can break above with volume, it can test 38 to 40 level resistance. Above 40, it can test 42 to 44 level resistance. We will consider puts if NIO fails to hold above the 34 level, as it would break the wedge and fall to 33 to 30 level support.

Contract Suggestion:
Above 37 level: 37C 10/01 (296.7K Volume @0.70) or 40C 11/19 (5.6K Volume @ 1.78)
Below 34 level: 34P 10/01 (5.8K Volume @0.18)

 

 

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

  • Testimony by Chairman Jerome Powell on the Coronavirus and CARES Act on Tuesday (09/28) at 7am PST/10am EST – Testifies on COVID
  • Policy Panel Discussion with Chairman Jerome Powell on Wednesday (09/29) at 8:45am PST/11:45pm EST
  • Unemployment Claims Data on Thursday (09/30) at 5:30am EST/8:30am PST
  • Pending government shut down this week. Watch news on congress

 

 

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