Sabato's Market Watchlist 9/27-10/1
Hey! Welcome back everyone! October is right around the corner! Pumpkin decorations are now ALMOST warranted in my mind, but what do I know? Please share this with your friends who share your interests. You might get a free trial out of it. Who knows.
You know the deal: I present my technical analysis (TA) and provide some set ups I like for this coming week. Check out my recap from last week to sharpen your skills and see how my picks went. Check out the small account challenge another going on in the True Trade Discord too! That account was up more than 150%! Anyway, let's get right into it!
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.
1. Lululemon: $LULU
$LULU proved the range I mentioned last week. This range on a daily chart consists of support at $414 and resistance at $434.2 area, with a new ATH of $437.32 made on Thursday 9/23. Higher lows were made all last week as well, creating my bias for an upside move. I favor the upside, but never count out another rejection. I like calls above $437 area and puts below $414.
30 min chart:
Key levels upside: $434.3, 437.3, the moon
Key levels downside: $426.5, 423, 420, 414.
2.Advanced Micro Devices
$AMD still establishing a range since is massive run up. If market permits, we are set up pretty nicely for a break out to the upside if AMD can clear $106.8, which is where the 21 SMA currently lies. Last week, we made higher lows every day. I favor the upside here. I'd only be interested in the downside if we break below $103.75 area with a daily close below this level.
30 minute chart:
Key levels upside: $106.8-107, 108.3, 109.3
Key levels downside: $104.8, 103.75
3. Zoom: $ZM
$ZM closed below daily support at ~274. There is not a ton of support for Zoom until $266-267 area, which is where it was bought up on Friday. This is more of a watch on the side set up. I'd like to see how it develops. Will there be more definitive support put in at $266-267? Or will we flush down to $247.8 and possibly even further to $240? The most proven buy zone sits at $240-230 area. If we get a daily close below $266, I would favor more downside coming. If Zoom puts in a support level and continues, we could reverse with a daily close above $280-281.5 area.
Daily chart, zoomed out:
Daily Chart, zoomed in:
30 min chart, confirming levels and zones:
Key levels upside: $274, 280-281.5
Key levels downside: $267, 247, 240-230 zone
4. Starbucks: $SBUX
$SBUX looks very similar to the higher lows of AMD and LULU. We gapped down and bounced off the 200 SMA on 9/20. There is some clear resistance at $115 that needs to be cleared in order to continue upward back to $117 and then $119-120 area. There is a support zone from $113.2-114 that we need to hold in order to make a run back to the above areas. I favor calls above 115.1 up to 116 and then 117. This is not a huge play, but I like the set up if we can clear and hold $115. If we break back below 113, we may move back toward the 200 SMA
30 min chart:
Key levels upside: $115, 117, 120.5-121
Key levels downside: $113.1, 112, 110
Bonus plays: Remember to check these out for yourself (members get more info for free).
$BA: Push above $223 area and we can see $226.5 again
$TSLA: Calls above $780.5. Puts below $725.
$NKE: Let see if the gap gets filled more... Has room to continue down to $147.8 until some sort of support on a daily
$F: Ford tapped $14 and closed over 21 and 50 SMA this week. Can see more upside over $14
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!!
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