Market Watchlist 8/16 - 8/20
Hello everyone , welcome to another weekly watchlist by True Trade !
Last week was a nice one , catching the BA move with some MSFT, and SNOW breakouts , both look like they can continue for the week to follow , but aside from those , we have a new fresh list of picks for the upcoming week !
Market continues to push higher , as S&P closed at highs with the dow not to far behind. Tech had an early week sell , but recovered pretty well. No sign of market putting in a reversal yet , so as always , play the trend , until it fails 😉.
(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. NVIDIA ($NVDA)
NVDA - DAILY UNTIL 8/13
We saw an early week sell on NVDA , like many other tech related stocks, but off that week low , we got a nice reversal bounce. We revisited that 193 base area, held higher and got back over 198 to end the week. We held 200 most of the trading day on 8/13, and with that it looks like NVDA is setting up for a pre er run back towards 203 , 206, Let's see if that momentum continues 👀. Since we have earnings coming up this week , we can expect some nice moves , and with that we definitely want to be on the lookout.
KEY LEVELS:
205: Give or take a few cents , 205 had some selling on the last breakup, break and hold 205 sets up up again for all time highs. We could see some mediocre selling around 202.8 or 206.5 , but holding 205 is ideal for buyers.
200.3 and 198 : We held the 200 base all day on 8/13 , and prior to that we recaptured and held the 198 level all day on 8/12. 198 Was our support before the down move , and recapturing it flipped momentum back to the upside. For the week to come , we might get a dip back to 198 for a buy , or just hold higher basing off 200 for the continuation. 193.15: Key downside support, if we see an earnings gap down , would watch hre for buyers, a beak under would initiate a push towards 188.
2. FACEBOOK ($FB)
$FB - DAILY UNTIL 8/13
A Lot more sideways action for FB last week , looks like that will set us up for our continuation move back to the upside, especially if we can get that 365 break for facebook. We had an engulfing candle on 8/12 , and then held higher on 8/13 ,maintaining buyers over 362. SHould see a retest of 365 , if not break and head towards the 373 gap 😯.
KEY LEVELS:
365: Closest resistance zone , had multiple rejections , breakin back over 365 , or high 364 and getting a hold gets us setup to attempt a gap fill at 373.
361: Was an immediate pivot zone , buyers were holding on the initial 365 rejection , before flushing on 8/10 . We recaptured on 8/12 and the followed into the end of week holding above 362. Look for this to be the consolidation zone for the potential upside breakout. Holding back under 361 and upside breakout potential fails
356.5: Over this level , continue to be a buyer
3. ROBLOX ($RBLX)
$RBLX - DAILY UNTIL 8/13
With earnings coming up , Roblox is looking good for a move. We recently just broke our downtrending slope , and on the breakout we also retraced and held the breakout zone off 82. Its looking prime for a run back towards 88, if not higher post earnings.
KEY LEVELS:
87.85: Upside resistance , we do see some sellers stepping in early around 85.6 as well, but apart from that breaking 88 , can result in a quick move towards 90.
83.2: On the initial upside breakout , this level was resistance, and held for 3 days after the breakout, before dipping back to the breakout zone just under 82. We recaptured the level to close the week , and based over it , holding here can get us going back towards 85.5 , if not 87.8 81.6: The support from the breakout zone , back under here and we get a likely move close to 78.
4. TWILIO ($TWLO)
$TWLO - DAILY UNTIL 8/13
Twlo had a nice bear flag breakdown last week under 363 , pushing us towards 354. Of that we saw a nice solid bounce and recapture of 363 , almost as a nice bullish engulfing candle. We rejected the 368 breakdown on 8/13, but managed to hold 363 support , if buyers can hold again early in the week , we might be setting up for a move back towards 380.
KEY LEVELS:
381.94: Was the top of the consolidation range , getting back over 368 would trigger a gradually upside move back towards 382. Some sellers likely step in around 372,378 , but 382 is the 🔑
368.79: The breakdown level , we rejected it on the re-test to end the week , getting back to this zone next time would probably initiate a breakout. But under it we can see some support around 363 , if not a slight move on the downside back to 357. 363.19 : Downside support during the multiday consolidation , also the tiger point for the downside flush towards 355. Holding over here gets momentum built again for an upside breakout.
5. APPLE ($AAPL)
$AAPL - DAILY UNTIL 8/13
Apple looks ready for a nice boom boom. back on the list from last week , we were eyeing a 148 breakout to get us ready for new highs. We tried to breakout at the end of last week , but just ended the week with some consolidation. If anything the consolidation adds to potential breakout strength, and a continued hold over that 148 followed by a , let's say 149.3 beak gets us moving  🚀.
KEY LEVELS:
149.24 - Break over here , and we get new all time highs shortly after , the seller's line in the sand. if we reject here and break back under 148 , likely see a revisit of the breakout around 146.
148 - The first break we needed for upside momentum , we got the break and held the following day , now if we can continue holding look for that 149.3 break to go on a rocket ride.
145.52 - Same as last week , this was the key consolidation zone leading to the breakout , say we reject early in the week and sell off a few bucks , as long as 145.5 holds , look for some buyers to come in.
EXTRAS: $MSFT: got the breakout was wanted to new highs last week. No telling how high we can continue , i would look for continuation until 290 breaks. 291 was intraday support to close last week.
$SNOW: Can head towards 295, 300 still , we got the 288 break last week and gradually began grinding higher to close the week.
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If you don't know how to utilize the key levels presented this post below: https://www.truetradellc.com/post/market-outlook-3-15-3-17
^^^here is a snippet of how the levels can be used ^^^
Check out past watchlist @ https://www.truetradellc.com/blog/categories/watchlists to see if any plays are still live or if the levels truly work 👀
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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 !
** THIS IS NOT FINANCIAL ADVICE**
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