Sabato's Market Watchlist 9/7-9/10
Hey! Welcome back everyone! Hope you all had a great Labor Day weekend! 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 where members profited mucho dinero from picks our analysts alerted live! 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.
1. Boeing: $BA
$BA has been on the watchlist for a while now, as it has been ranging. You're probably sick of seeing it on my list, and tbh, so am I. I just like the hunt of this one! In short, I am waiting for a break out of this daily range, with $223.1 area being the top of range (resistance) and $217 area being bottom of the range (support). This is based off a daily chart. I like longs above and shorts below. Set your alerts!
Daily chart:
30 minute chart:
Key levels upside: $223.1, 226.2
Key levels downside: $217, uptrend
2. DraftKings: $DKNG
$DKNG has met resistance many time in this $60.4-61 area. On top of that, there is a clear ascending triangle on a daily that was broken, but not with much force. We have not seen a daily close above this $61, yet we are oh so close!! I like longs on this break above aforementioned resistance and and shorts (scalps only) below the uptrend.
Daily chart:
30 minute chart:
Key levels upside: $61.6, 62.3, 63, 64.4
Key levels downside: $60, uptrend
3. Netflix: $NFLX
$NFLX roared to new highs last week. I am looking for a hold/continuation of where it is now. To make it very simple, I am watching a break of 593.3 leading to new highs, and I am looking to see if we hold $583.3 as support (daily levels). I would not be surprised if we just take a breath and then continue. We can also consolidate. Who really knows anything, right?
Daily chart:
30 minute chart:
Key levels upside: $593.3, ATH, the moon
Key levels downside: $588.75, 583.3
4. Paypal: $PYPL
$PYPL had a real nice pop out of a range last week and then began a bull flag formation on the daily chart. Many traders I follow are watching this, as it looks to be a nice flag and continuation set up. I like long above $291.5 area, short if we close a daily candle below $285.3.
Daily chart:
30 minute chart:
Key levels upside: $291.5, 295
Key levels downside: $285.3, 282.2
Bonus plays: Remember to check these out for yourself (members get more info for free).
$TSLA: This one worked out last week... $740 area of resistance is the area to break next.
$AAPL: Looking for new highs again...
$BIDU: Hold $159 (below, shorts), break $167 for longs. Would like to see some needed consolidation.
$APPS: Kind of a wild card here... Would like to see a continuation and break of $67
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. Maybe one day I'll have to put together a mini e-book.... who knows. Thanks for reading! Remember to stick to your rules this week!
-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**
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