Week of Aug 24th
Welcome back to week 2 of my Weekly Playbooks! These are the stocks and coordinating levels that I am watching for this week.
These plays may depend heavily on how the market continues to move. I’m watching SPY to see continue to push forward and make new highs. If the market can’t continue to rally, or takes a step back, these plays may not happen. To watch market internals I keep watch of: SPY, NQ, $ADD, and VIX.
My Top 3 For the Week:
AMZN: I really like Amazon's daily and weekly charts. With /ES and SPY making new highs I think we can see AMZN break all time highs.
I'm looking to play:
Calls break above $3320
Puts break below $3240
AAPL: Apple was a runner on Friday! Breaking all time highs and was a great momentum play. I'll be watching SPY and NQ to see how tech stocks move this week. I think we can see a continuation play for AAPL if the market continues to rally. However, if volume dies down, APPL may remain flat or take a dip back down.
I'm looking to play:
Calls break above $500
Puts break below $485
FB: I like FB on the weekly and daily chart. However, any news/catalysts could push this stock in either direction. Technically speaking, FB looks like an inverse h on the daily chart, which usually means the stock will push up. If the market makes new highs and rallies, I could see FB pushing up as well.
I'm looking to play:
Calls break above $272
Puts break below $260
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The Other Stocks I'm Watching This Week:
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BABA:
Calls break above $268
( watch how it tests $270)
Puts break below $245
BA:
Calls break above $190
Puts break below $155
NIO:
Calls break above $14.70
Puts break below $12.50
TGT:
Calls break above $156.10
Puts break below $151.50
(Gap Fill on downside break below $147)
TSLA:
Calls break above $2100
Puts break below $2000
ZM:
Calls break above $292
Puts break below $280
DIS:
Calls break above $130
Puts break below $125
(Gap Fill on downside break below $124)
(Gap Fill on upside break above $135)
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IMPORTANT TO NOTE: I am not a registered or licensed financial advisor. This is just for educational purposes only and this is just my opinion. Taking a trade is your personal responsibility and is in no way affiliated with me or, tradeswithrama.
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