Sabato's Market Watchlist 8/9-8/13
Updated: Aug 14, 2021
Hey everyone! Hope you all had a great weekend! This week, I am highlighting some of my stock picks which I will be watching. I will give key levels of support and resistance along with an ideal entry point for both the upside and downside (psssst.. those are usually the key levels). Let's get right into it!
As usual, all levels below are based on a daily (yellow price levels in images) or 30 minute chart (white price levels in images). I approach charting by starting at daily 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.
Paypal: $PYPL:
Paypal held $275.9 area and the 50 SMA (yellow curved line) late last week. I am looking for a break of $282.22 for upside up until the sell zone in red (~286). Ideally, entry off retrace to the trend and confirm with break of that 282.22 level.
30 minute chart:
Key levels upside: $ 282.22, 286.3, 288.7
Key levels downside: uptrend, $275.9, 286.5
2. Moderna: $MRNA:
Moderna was a monster play last week. I'll keep it simple on this one as well. $394 is support while it is also down trending on a 30 minute chart. Will need to break one way or another.
30 minute chart:
Key levels upside: downtrend, 416.5, highs
Key levels downside: $394, 377
3. Fubo TV: $FUBO
Earnings for $FUBO are on 8/10. This may serve as the catalyst we need to make a big move. I do not play earnings. I like to play the result of earnings. With this being said, Fubo has been ranging between 28.5 to 24.8. I would like to see a break of this range. For a break to the upside, we'd need to see a break of 27.5 then 28.1. I am leaning toward the down side on this as $FUBO is currently below all SMA. I would not be surprised if it rejects off of one of these. On the other hand, earnings could surprise on on this one.
Daily chart:
Key levels upside: $27.6, sell zone in red, 28.56
Key levels downside: buy zone in green, 23.73, 20
4. Zoom: $ZM
Zoom has been in a bit of a recovery since reclaiming and holding its 200 SMA. This one is simple: looking for a break up above $404.11. That has served as resistance twice and we have a nice up trend on a daily and 30 minute holding nicely. Looking for the uptrend to be held and buy a dip to this if sellers don't break through to the downside.
30 minute chart:
Key levels upside: $404.11, 417.3,
Key levels downside: uptrend, $373.4, 363.8
Bonus plays:
$MCFE: Announced a one time dividend of $4.50 per share. This will be interesting to see how the stock reacts. I'd imagine it would get bought up before the ex-dividend date then sold off.
$NVDA: Would like to see hold 202.7-203.7 for a move higher
$MARA: Looking for a break $34.87 on upside. Has had a nice run up.
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**
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