Market Watchlist 12/27 - 12/31
Hello everyone and welcome to another weekly watchlist by True Trade !
I do expect some lower volume in this upcoming week leading to the new year , I don't have as much on my list for this week apart from a few consolidation setups that could look to break , but let's see how it goes and if they don't break , we can just extend the levels out into the following week 😁
Most people are looking for that "santa rally" in this upcoming week , but let's see if that pans out 👀, or will bears continue from that end of week sell 👀.
1. ROKU ($ROKU)
$ROKU - DAILY UNTIL 12/23
Back on the list from last week , Roku remained under the 236 level and just consolidated all week , forming what look like a bull flag over 221. If we can break that upside level over 237 we can really get a nice momentum release on the upside towards 250 + , if we remain under , back into 220 we go.
KEY LEVELS:
264.15 - Breakdown candle from Mid November , key zone for sure , and this is where buyers will likely start to push towards if we do get a true reversal back to the upside (hold 237). Not likely to see immediate move into this zone , but it's likely to be more gradualdal. (250-252 will be another target zone on the way up as well)
245.11 - Was a key pivot as we broke back to the downside a few weeks ago , over 237 this would be the ideal 1st target zone . Don't expect this level to be as important as the upper 250 zones , but will keep an eye on it and use it as a target on an upside break.
236.6 - The top of the current resistance / bull-flag. If buyers can get going back over 237 , they will have strong control + holding over it can help get momentum going back towards 250's. Failure to break and shorts can be looked at back down to the bottom of the zone at 221.
221.5- Current base/support and the bottom of the bull flag , would be an interested buyer over this zone , if the zone breaks , shorts are back on the table , and downside back towards 210 would be possible.
MOST IMPORTANT LEVEL : 236.6 - key pivot for the week
2. UNITY ($U)
$U - DAILY UNTIL 12/23
Unity has started to see a wave of buyers step in over 130 , with last week's higher hold , if we can get going over 148 a reversal to the upside could be in store. If we remain under , sellers will retain control and ca push us back down towards low 130's.
KEY LEVELS:
155 (grey zone) and 160 - 155 was a former breakup candle from November , and even still it has been crucial. SInce breaking down on 12/1 , we have yet to get a daily close back over 155 . With that said just above 155 we do have 160 , which seems to be equally as important. If buyers can hold 155 and get momentum going over 160 we can see a nice reversal get going towards mid 160's and then mid 170's. If we can't break , sellers will remain in control and look to push us back down towards 130.
147.57 - Can be the top of the range . 147-8 has been an important back and forth intraday zone , can use over as long , under as shorts. Can see the back and forth action on daily and hourly. Back over we can build momentum towards 155 , while undr we can head back towards 138.
138.41 - Has seen some solid price action along this zone. 2 day hold under followed by a upside breakout , and a hold on a retest to end last week. 138 looks to be important on a intraday basis . It's not as prominent as that 132 buy zone , but would be watching this zone if we see some early week dips.
132.15 - Big demand zone , would look to be a continued buyer until this zone gives in , as seem we have had a lot of wicks and candle holds off this zone. Looking for a potential base to get a reversal going.
MOST IMPORTANT LEVEL : 147.57
3. PAYPAL ($PYPL)
$PYPL - DAILY UNTIL 12/23
PYPL has taken quite a beating over the last few months. But as mentioned in a few previous posts , buyers have seemed to like that 180 buy zone. We have started to hold higher on pullbacks , holding around 184 , but each wave to the upside has still been getting rejected with a lower high. If this wedge can break and hold over 196 , we can start the process of forming a higher , high , and continue the upside grind in towards 200.
KEY LEVELS:
202.03 - Breakdown candle from mid November , buyers had been holding 202 before this break right here , would expect a short trade on an initial retest.
196.06 - Over 196 we will get our higher high , and likely get that retest into 200. Was also that breakdown candle that sent us back under 194.
193.62 - Key breakdown candle from late November , we spiked it early this month , but found ourselves back under it the very next day. Would really like to see buyers holding and building a base over 194 to complete the wedge break , and then look for upside continuation towards 196 and 200.
190 - Hourly support zone for the later half of last week. The key daily candle comes off around 188.75 , but with the hourly base we would ideally like to hold over 190 on pullbacks if we area indeed looking to break higher.
183.4 - The higher hold if we are to get the reversal, there is no telling how long this wedge last , ideally it breaks within the next 1-2 weeks , but in case we do take longer , as long as 183 holds buyers , long trades can be taken.
MOST IMPORTANT LEVEL : 193.62
4.DOCUSIGN ($DOCU)
$DOCU - DAILY UNTIL 12/23
DOCU had one hell of an earnings gap down , but with last week's consolidation , it looks like we could be in store for a potential upside reversal. If buyers can start holding 155 they could start building momentum once again for a run up back towards 163 (the pivot from 12/9)
KEY LEVELS:
163.8 - This is the pivot from 12/9 , there is a huge unfilled gap on the upside , so would have to wait for a bit more price action to develop to see the more important zone. Definitely a ways to go , will try to keep some updates upside levels on Insta stories.
154.8- The gap down breakdown candle , we have failed to close back over this level until last week , so holding over 155 should help put buyers in a better position to grind to the upside , while getting back under it would favor the sellers , this will be the key over/under zone for the week.
145- The most current base support , we were pretty much sideways all last week , likely building momentum to break , which in this case looks like a break to the upside. Back under 145 would open the gates for 138 , while staying over provides buying opportunities.
MOST IMPORTANT LEVEL : 154.8
5.CROWDSTRIKE ($CRWD)
$CRWD - DAILY UNTIL 12/23
CRWD is back on the list after last week , but it's looking even better , the last few trading days have seen a higher consolidation forming what looks to be a bull flag , if we can get buyers to hold higher and break 213 , a nice squeeze to the upside is in store.
KEY LEVELS:
220.95 - The breakdown candle back from late November. Have yet to retest this zone since the breakdown , would likely see some selling between 221-223 area on an initial retest , and this could provide an ideal short setup. If we do blow through this zone then 230 wouldn't be that far out.
212.84 - Top of the current resistance , also a breakdown candle. This level is back on the board from last week , as it has remained important on the upside. Holding over 213 would complete the breakout and likely lead to a squeeze up towards 220. Holding under provides short trades back to the bottom of the zone.
200.16 & 204-205 - CRWD held higher on a pullback last week , around 204-205 area , apart from that we did seem to see buyers step in higher holding 200 to start the week. On pullbacks i would ideally like to hold 204-205 to build momentum for the upside breakout , but will be aware of potential buyers if 00 is tested again.
194.71 - The bottom of our current consolidation zone , it's likely that we hold higher , that 20 area on pullbacks , but in case we do find ourselves selling off next week , back down into 194 zone would be good potential dip buy opportunities.
MOST IMPORTANT LEVEL : 212.84
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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