Market Watchlist 2/1 - 2/5

Good evening everyone, hope your all having a fun and enjoyable evening. In this post i'll pick some of my favorite stocks for this upcoming week , and identify some key areas you can look to play these stocks at.


As discussed in the last market recap post there's room for continued downside , but as i am writing this post /ES has hit its next support level and is getting a decent size bounce, so to start off I'll make a list of key levels to watch if we do conite back up !


---- /ES ----


As seen above , /ES is getting that buyer bounce off 3660 , a key level identified in the last post. Now if we can get an hourly close back over the level, and hold it into tomorrow's open we can make a push back towards 3748. Meanwhile if we fail to close and hold over , we can reject and head back into 3660 overnight.


Some key levels to watch on upside would be 3716-3717 , 3748 and 3775 . Getting back over 3748 and holding would be best for the bull case. While the downside levels would include the same 3716 , 3692 (open from sunday, might me intermediate level, not huge) and then 3660. The $SPY similars could be ($372.24 , 373.55 on upside , and then 368 and 364 on downside). ( I do still favor continued downside with that poor close Friday, but as always anything is possible so keep your mind open, ! )


(for all trades below if i mention level hold, stop loss etc, I'm using daily or hourly closes for stop losses or holds)


1. MODERNA ($MRNA)


Moderna has been a hot stock with the covid vaccination news, and had an insane push up on Friday pre market, and then began to base off. We closed at a new all time daily high, and this is another one that can see an explosion in the week to come.

$MRNA - DAILY UNTIL 1/29


The key levels to lookout for on this one are that 169.86 on an hourly basis and then 177.6 . MRNA made a pre market high just over $218 , and it's more than possible that we can go and revisit that zone .

$MRNA - HOURLY UNTIL 1/29


As seen on this chart, MRNA held that 170 very very nicely on 1/29 , and now this level can be a buy with stop hourly stop under. While the 164 can be a quick dip buy scenario. If we open on a gap up on 2/1 and 177.6 holds, you can look to buy that level as well (initially treating it as a scalp, and then for a potential longer move on a base and hold/ hourly close over, just as we did with 169 on 1/29 above).


Again the key levels for $MRNA on upside would be holding 169.8 and then 177.6 on hourly basis.


2. ROKU ($ROKU)

My favorite downside setup for this week , is none other than the high flyer, ROKUUUUUU. We have had some very drastic upward movement over that last few months on this streaming powerhouse, and it's starting to look like its losing some of its steam. Especially with some market downside these last few days, some of these growth companies can be hit the hardest if we continue down.

$ROKU - DAILY CHART UNTIL 1/29


In terms of the daily chart , we just recently broke back under our gap up support at 391. And prior to that we have been down trending the last 4-5 days , slowly putting in that short term sign of a reversal. Yes a great short play could've been taken on the 1/26 break back under 418, and then on the revist on 1/27, but it looks like there's more to come.


For the strong short side case , we would remain under 391, and this is the level we want to short, looking for moves into 380 and 360 (may not happen immediately so be patient). On the other hand if we open and stay above 391 on 2/1 the short side play would be void.


If we hold 391 we could look to go long into 408 , where if sellers do step in we have another chance to short.

$ROKU - HOURLY CHART UNTIL 1/29


So for $ROKU - the key line in the sand is 391 , and this is where you can look to long or short based on which side we hold. (Favor short under 391).


3. SKYWORKS ($SWKS)

Next we have a company that blew out earnings last week , Skyworks solutions ! This would be my favorite upside tech setup on a market bounce. Even with the great report, $SWKS failed to get much buying pressure on 1/29 , especially with the market selloff. So the buyers that missed out last week, could definitely hold us on 2/1 with a bounce play 👀

$SWKS - DALY UNTIL 1/29


Even with the gap up , $SWKS was unable to hold , but it still was able to close over the former highest daily close. With that in mind the 2 best buy areas on here would be a hold of 166.6 or a quick dip into 163.4 (keeping stops at whichever level you enter off) . Ideally we held the higher level all day on 1/29, so this could offer. a nice base bounce into Monday,especially if the market opens on a gap up.

$SWKS - HOURLY UNTIL 1/29


That buy into 166 looks pretty solid, with the first target being a break back over 171 and then back towards 179. In the case we open on a gap over 171 you could also enter long on a hold over that 171 zone.


The key levels to watch on $SWKS for continued upside will be that 166.6 into this upcoming week.



4. FUBOTV ($FUBO)

Fubo has been very very volatile this past week, and as a result it has offered a plethora of trade opportunities, and this upcoming week should be a bit more of the same.

$FUBO - DAILY UNTIL 1/29


The key , big line in the sand is holding a daily close over that 39.82 zone for now. If we continue to hold that , and can recapture 46.7 we will make a push back into 57 , potentially looking to explode to new highs (with the crazy amount of short interest their is). Since this one is very volatile you do want to be careful, and be patient. But the last 2 days just ran a retest of the breakup from 1/25 and looks solid for more.

$FUBO - HOURLY UNTIL 1/29


As seen above, that hourly hold off 38.92 has been present and if we continue to hold that hourly (even with a potential quick dip into 37.7) $FUBO looks solid. On the upside first step would capturing 46.75 and then basing to capture 49.5. If 49.5 can hold buyers and consolidate for a bit ,there's no reason $FUBO doesn't try to make new highs sometime next week.


The key lines in the sand for upside is $39.82 and then capturing 49.5.



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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Hope you all have a wonderful rest of your weekend, and a great upcoming week :)

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