Hello everyone and welcome to another market watchlist .
The market continues to grind straight up , it looks like this rally will never end. We closed last week back at all time highs , and it was the first week where the Russell started to break out (IWM). The Russell had been consolidating now since February , and this was the first new high since March. Can we pullback and have a higher hold , or will we fall back into the range , we need a few more days of trading to see how this breakout will react , but if we do hold higher we are likely to have a float market into the end of the year.
Earnings names are still on watch , so let's get started with this next week's watchlist !
(ALL TIME IS BASED ON PST)
(for all trades below I mention level hold, stop loss, etc, I'm using daily or hourly closes for stop losses or holds, you can trade the levels on an intraday basis !)
1. PAYPAL ($PYPL)
$PYPL - DAILY UNTIL 11/5
PYPL has taken quite a beating since the buyout of PINS announcement. We tried a bit of a relief rally when the buyout was disregarded , but it didn't help much as sellers continued to pile in. After taking such a beating we do find ourselves sitting at a multi month support off 225 , and this will be the line in the sand for the coming week. If buyers can hold and recapture 233 , we can get some quick pressure to the upside. Meanwhile if we break , sellers will have a fun time pushing us towards 200.
255 - This was our initial support before the start of the breakdown, We broke then re-tested this breakdown on 10/25 before rejecting and flushing again. If we do ee a positive ER reaction i would expect a visit into this level sometime this week.
243.85 - Breakdown candle, another upside target for PYPL
238.54 - Would be first upside target if we do stat getting reverse back to the upside.
232.76 - Just for safety we will call is 233 , if 233 can clear the down trend will start to reverse back to the upside. Until this level is recaptured , the all is in the shorts favor.
225 - Current support , have now had a 3 day hold here , without breaking , if this level gives in we can see a very quick flush on PYPL to the downside , getting us going into the 210 zone.
2. COINBASE ($COIN)
$COIN - DAILY UNTIL 11/5
Coin was originally supposed to present earnings on 11/5 , but that was delayed into this upcoming week. The levels from last week remain similar , but we did get some more upside into this week. 350 clear is still the gate for new all time highs.
381 - The price at open on IPO date. Would be a ideal first target after the upside break , but best to take profits along the easy as we can reject earlier , will have more info in real time if break does occur.
348.9 - Had a lot of follow done here after the IPO , still the level that can get us floating to new ATH's. Breaking here should create a vacuum to the upside.
333.43 - Was a breakdown zone that got captured this week. look to hold over for continued strength into ER announcement. Back under opens gate for 325 , if not lower into 307.
305.98 - Still a solid support zone If post ER breaks under here , the short term trend will be flipping , or start flipping back to the downside. BAck under here opens the gate for 293 and 275.
$SQ - DAILY UNTIL 11/5
SQ had a mixed ER reaction , initially selling off after hours , then spiking at open , then selling off once again. With this expanded volatility we should see some extra movmnt for SQ especially early in the week.
255.12 - Before earnings we had a 2x rejection off 255 before breaking 253 to the downside. After the report , this is where we rejected on 11/5 before flushing back to the downide. This will be important back on the upside.
253.02 - This was support before the breakdown early last week. We noticed a spike back over the level on 11/5 ,. but we failed to hold , as we rejected 255 , and broke back under to flush to the downside. If buyer can start holding back over 253 , we can see momentum back to the upside , or else sellers will remain in control.
247.41 - Has acted as intraday support last week , and did also on th 11/5 selloff. Once we broke we continued down all day , but should be an important intraday pivot last week. Holding under favors shorts , while getting back over here favors upside.
231.97 - This was our last breakup candle + pivot reversal. Would likely see some buying here if we visit. After hours we did see buyer step in at 233-234.
4. UPSTART HOLDINGS ($UPST)
$UPST - DAILY UNTIL 11/5
UPST has been a hot stock for the later half of this year, It seems to have cooled off a bit with its recent consolidation , but let's see how we move after this upcoming earnings report. With how it has been moving , if the report is great we could easily see new highs being formed.
390 - Around the all time highs , would be an upside target if we break up post ER , nothing really apart from that . Maybe we have some resistance lower around 368-370 , but we should gradually see a grind back towards the highs if that 355 + holds.
352.46 - Breakdown candle , has also had a restes rejection since breaking down. If we can re-clear here , bulls will take control again. while holding under can look to build momentum for a downside break.
320- Held this level all last week , and even a few days before it , Buying over this zone is ideal , while breaking would show the first sign of short term weakness.
307.38 - 3 day consolidation breakout zone. Until this level breaks , I would favor taking long side trades on pullback. Meanwhile if we do break , gate opens quickly for a push back under 300 towards 290
5. AFFIRM HOLDINGS ($AFRM)
$AFRM - DAILY UNTIL 11/5
Another hot name for the latter half of this year. Similar to UPST , AFRM has had some nice upside momentum this last few months , and this upcoming ER report can solidify or break this form. We are sitting at all time highs , so I don't have any upside targets in place , but we do have a few good zones on the downside that can act as potential support.
NEW HIGHS - We are sitting around ath's , no really upside target. You could use the high at 168.74 as a gauge , but nothing apart from that on the upside.
146.73 - The most recent base. We have a breakup cadle , and have now had a multi-week hold over this zone. Look to be a continued buyer until this zone breaks.
130.26 - Former resistance , turned to support , another downside zone to watch is ER reaction is not as good as expected.
$FUBO - Earnings coming out this week as well. We have seen a small rally recently , ut have yet to clear 34.7. Back over 35 zone opens the gates for 37-8 and then 40-41. On the downside we have mid 27-28 acting as the ideal support. $SOFI- This has been a hot one recently , definitely going to pay attention to post ER reaction while watching key levels at mid 23 and 25 on the upside and 21 and 19 on the downside .
That's it for this week's list, if you have any questions don't hesitate to contact us or drop them below. These are just a few stocks im keeping my eye on this week, and as always, do your own due diligence and realize that their will always be risks associated with trading !
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