9/29/2021 Watchlist Charts
Watchlist for 09/29/2021
$BABA – The stock traded up 1.47% during market hours but was down 0.55% after hours. BABA was one of the few that’s that closed green despite the market weakness. There were multiple bullish sweeps come in at the 152.5, 160s and 165 calls towards the last two hours of the market. On the daily timeframe, it closed a doji but has seen a continuation from the bullish engulfing candle the prior day. Depending on how the market reacts tomorrow, BABA would benefit from a market bounce due to its strength. Keep in in mind, BABA has been in a continuous downtrend, so treat it like a dead cat bounce until it can close above 178 level. Keep an eye on the 154 level or back test 152 level, if BABA can hold above these levels, it can test 155 to 158 level resistance. Above 158 level, it can test 160 to 162 level resistance. We will consider puts if BABA fails to hold above the 152 level, as it can pull back down to 150 to 148 level support.
Above 154 level or back test 152 level: 155C 10/01 (23.3K Volume @2.23) or 165C 10/08 (5.6K Volume @1.43) Below 152 level: 150P 10/01 (6.7K Volume @ 2.38)
$CRWD – The stock fell 4.53% during market hours and was down 0.87% after hours. On the daily timeframe, CRWD filled the gap down from the previous gap up prior to their earnings report. Unfortunately, CRWD closed a strong bearish engulfing candle but has been trading within a falling wedge pattern. CRWD is a critical level that needs to hold, or it can see more downside after closing below the 100MA (244.23). Keep an eye on the 240 level, if CRWD fails to hold this level, it can break that falling wedge and pullback down to 232 to 226 (200DMA) level support. Calls look much better above the 100MA (244 level), as it can test to 255 level support.
Above 244 level: 250C 10/01 (392 Volume @1.73)
Below 240 level: 235P 10/01 (863 Volume @ 2.33)
$DDOG – The stock fell 3.24% during market ours but was up 0.35% after hours. DDOG has been trading in a bullish channel but now DDOG has tested and held the lower trendline. The issue is that the daily moving averages are curling down, and we see an increase in above average sell volume since the gap down during Tuesday’s trading sessions. If we see the market continue to pull back, DDOG has a chance to break the bottom trendline and can start to fill the large gap down below. Keep an eye on the 135 level, if DDOG fails to hold above this level, it can pull back down to 133 to 130 (50DMA) level support. Calls look much better above 139, as to can test 142 to 150 level support.
Above 139 level: 140C 10/01 (902 Volume @1.47)
Below 135 level: 132P 10/01 (152 Volume @1.08)
$NFLX – The stock fell 1.48% during market hours but was up 0.37% after hours. NFLX showed some strength right at open but was quickly rejected once it got near the 600 level. The 600 level is a big psychological level, so we can expect sellers to sit there until buyers start to chip away at that wall. Unfortunately, after the pop at open, it ended up closing red with above average volume. On the daily timeframe, NFLX has been trading in a tight wedge with tight price action. The confirmation for uptrend would be safer above 600, but you can try to play the break of the wedge of both sides. Keep an eye on the 579 level, if NFLX fails this level, it can pullback down to 575 to 569 level support. Calls look much better above 588 as NFLX can test 592 to 597 level resistance. Above 597 level, it can test that 600 level to 605 level resistance.
Above 588 level: 600C 10/01 (27.7K Volume @ 2.05)
Below 579 level: 570P 10/01 (1.3K Volume @3.20)
***NEWS TO LOOK OUT FOR THIS WEEK***
- 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