Market Watchlist 5/10 - 5/14


Hello everyone and welcome to another weekly watchlist by True Trade ! This last week was a pretty choppy one , looking like a breakdown under 4172 on /ES before catching buyers off 4120 for a move back to new highs.


As mentioned last week bull case is still in tact with the daily/weekly closes back over 4172, and that 4110 /ES support remains to be the big bull/bear level for now on a daily basis. We tried to break under with a daily close below on 5/4 , which lead to a 50 point drop, before recapturing it on 5/6 to close the week on new all time highs. The S&P500 and DOW remain super bullish, the DOW (/YM) even more so, not even getting under that 33641 support mentioned last week. The Tech sector had a extended selloff with (/NQ) , and is still the weakest out of the three, but we did hold the weekly breakup candle off 133314 or 327 ($QQQ).

(Didn't have a post again but I will keep updating the key futures zones on IG)



Earnings continue this week , so here are a few I have my eyes on:


1. AIRBNB ($ABNB)

$ABNB - DAILY UNTIL 5/7


AirBnB a popular stock since it's IPO, and after a hyped up release, it has started to cool off. Should see some nice volume coming in this week with earnings, so here are some key areas of interest.

KEY LEVELS:

162.33 - The most recent flush down location, broke the 160 support we were holding for about 4 months., so would definitely look for sellers to step in again from 160-162. 146.37 - The initial breakup area that sent us flying , can look for buyers here.

138.02 - Also had a decent bit of buyers down here, would watch to see if they show life again , although i would prefer a hold over 146 for an intraday trade.


2. DISNEY ($DIS)

$DIS - DAILY UNTIL 5/7


Disney is always a fan favorite, and with earnings coming out this week , we can finally see some movement, It has basically held the same level since its last earnings report. That 181 has held with buyers now for almost a three month period, and should continue to see buyers bar a gap and break under post earnings.

KEY LEVEL:

191.59 - The base resistance over the last few weeks, can expect to see sellers step in here, we get a break back towards 200-201 would be the next seller location

181.74 - the line in the sand, the daily pivot zone , as long as we hold here buyers have total control, once we break , we can see a pullback , the long term trend is still strongly up, just a consolidation period these last few weeks.

176.43 - Haven't been here in a while, could see some buyers, would utilize this level as more of a downside profit target , but also look to see if buyers start to step in



3. BLINK CHARGING ($BLNK)

$BLNK - DAILY UNTIL 5/7


A hot EV stock, $BLNK has earnings this upcoming week, and could see some nice move with investor's reactions. It hasn't done much recently , bu look for the volume to pick up this week, and keep these key zones in mind.

KEY LEVELS:

39.55 - The most recent pivot down move , should see sellers step in here again

31.06- The daily support with buyers holding the last three weeks, the short term trend is looking down , but that can change based on earnings. Until then can look to be short under 31 while long over, I do favor short side if we break.

26.06- 25.3 - This is the base support zone we had before our sporadic up move towards $70, where buyers first took control to push us higher, should see buyers sep in off here again , probably the best buy zone atm, breaks under and it can get ugly.



4. THE TRADE DESK ($TTD)

$TTD - DAILY UNTIL 5/7

With earnings coming up before open tomorrow (5/10) Trade desk can be a quick one. Generally moving $10-20+ a day, this can offer some great opportunity after earnings. This usually has a liquidity problem due to the lower volume of shares being traded, but that should be fine post

earnings.

KEY LEVELS:

749.02 - The most clear upside resistance level see, with multi day consolidation into a 5 day downtrend , sellers are positioned here nicely, can look for shorts on any gaps into this area post earnings with a stop over around 760 , or a multi hour/daily close over level

651.66 - The most recent hourly support zone , finding hourly support before breaking down on 5/5, and then finding it again on the up move 5/7. This can be the intraday bull/bear level

586.03 - The daily support area, look to be a buyer on ay dips into this zone, bar terrible earnigs outlook.


5. SNOWFLAKE ($SNOW)

$SNOW - DAILY UNTIL 5/7


A pretty strong downtrend has been forming over the last 2 months , and we saw continuation to the downside this past week , making a new 52 week low. With the weakness we can expect to see some continued downside, especially if the 207 does not hold. I prefer short side trades under 207 , or shorting the upside resistances until 240 s cleared.

KEY LEVELS:

220 - The multi week support that broke on 5/4 , to show continued downside to new all time lows , can be the over/under bull/bear pivot for a daily basis , as long as we hold under , bears have strong control , we get over , we can test 240 again , but even there lots of sellers have decided to step in

213.79 - The most recent intrad resistance it seems, we gapped down on 5/6, filled the gap on 5/7 and rejected after the morning spike. Can utilize this level as an intraday short/long level, looking to stay short under , and long over.

206.39 - The last bounce zone when we were headed down on 3/25 , didn't see much buying here on 5/7, but could change early next week , if buyer's can hod intraday to start the week you can look for long trades, but would use a tight stop under as stop loss. Prefer to continue short trades back under level.

199.84 ? - This is an unfilled gap... but not too sure this will act as support yet, can watch to see what price does here, but would more likely just use this as a downside sell target level until more price action occurs at the zone.


EXTRAS:


Take a peak again at: https://www.truetradellc.com/post/market-watchlist-4-26-4-30 and https://www.truetradellc.com/post/watchlist-5-3-5-7 lot of those levels are still super valid 👀👀👀


 

https://www.truetradellc.com/blog/categories/watchlists


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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