Sabato's Market Watchlist 10/18-10/22
Hey! Welcome back everyone! Earnings brought some nice upside to some popular stocks this past week. Can the momentum continue?
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Boring words which I don't change in case someone new stumbles along: As usual, all levels below are based on a daily (yellow price levels in images) or less than daily chart (white price levels in images). I approach charting by starting on a daily time frame and moving down to smaller time frames to find other intraday key levels. When the market is open and trading is live, I like to bring up a 5 minute and 1 minute chart to time entry as price is coming into my level.
Side note: In images, blue line is 20 day SMA, yellow is 50 SMA, and green is 200 SMA, where SMA = Simple Moving Average where applicable. The yellow arrows on the right are where my alerts are set to trigger where applicable.
Pitter patter, let's get at 'er.
1. Nio: $NIO
$NIO finally broke resistance around $37 via a gap up. Looking for a continuation above $38.5. Target one is 39.5 then 40.5.
Daily chart:
30 min chart:
Key levels upside: $38.5, 40.5
Key levels downside: $36.5-37
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2.Coinbase: $COIN
$COIN popped over a resistance turned support around 263.3 (green zone below). I'm looking for a continuation if we hold the green zone and break through the red zone. This is a more open ended play because $COIN likes to move mucho, so I am setting zones rather than hard prices. This can make the set up hard to play, but really, it makes you manage risk due to a bit of uncertainty while we establish a better range.
Daily chart:
30 minute chart:
Key levels upside: $281.6, 283
Key levels downside: $263-267 buy zone, 272.5
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3. Uber: $UBER
$UBER is inching closer to breaking $49, which has been resistance before. We have also been putting in consistent higher lows (see trend line). I am long over $49.
Daily chart:
30 min chart:
Key levels upside: $49, 50
Key levels downside: $47.7, 47.35, trend
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4.Nvidia: $NVDA
$NVDA is always a crowd favorite. The contracts move nicely, but they can also burn you. We had a nice little run up Thursday and Friday last week. I am long over $219.55 and short under 213-211 area. If we do not blast through resistance first thing Monday, I'd expect a bit of a consolidation before larger move to the upside.
Daily chart:
30 min chart:
Key levels upside: $219.55
Key levels downside: $210.95, 213
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Bonus plays:
$SQ: Watch for a break of $252.8 on the upside
$BA: Watch for short play below $216
$AMD: Long over $114.5
$WFC: Nice pop off earnings. Long over $49, Price target 1 is $50
Enjoy! Please comment below or DM me on Instagram/Discord for more help. I'm happy to help for free when others will charge hundreds of dollars for their courses, etc. Thanks for reading! Remember to stick to your rules this week! If you read this far, DM me for some extra watchlists!!
-Sabato
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 I'm 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**
**I AM NOT A FINANCIAL ADVISOR**
I can do this on and on for every stock , but the best way to get them live is by joining the chat ;) https://www.truetradellc.com/stock-signals-membership
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