Weekly Options Watchlist - 3/18/19
Check out the TOP Stocks we are looking at for this week! Charting, analysis, breakdowns and more below!
I really like PEP for puts at $117. The hourly chart is showing oversold and with a price of $115’s this means we likely will see $117 run up. However, looking at the daily chart we see a lot of resistance here. Zooming out and looking at the weekly chart we see this resistance carry on. This actually goes back to last summer as well.
Price Target: $115.50s then $114.30s
AMZN is rapidly approaching resistance at $1720's. This level goes back before the big run up and has been a solid stopping point since it's dipped from all time high's. We want to be careful here though. The market is very bullish and likely taking AMZN with it. I would wait to see if we reject off $1720s before taking a position.
Sentiment: Bearish on rejection of $1720s
Price Target: $1680s
BWA is sitting on some nice support at the $37.60s level. Notice how many times it bounces off these levels in recent days. Look at the weekly chart at the bottom and see how far this goes back.
Price Target: $38.60 - $39.00
ABBV has been getting tapped out around $81.50 for a while now. The market is very bullish right now so we need to be on the look out for a break-out. If we see a rejection here at this level I anticipate a drop back to $79-$80 range.
Sentiment: Bearish on rejection of $81.50
Price Target: $79-$80
Excellent channel trade here with JWN. As you can see from the chart below this stock has been trading in a channel for about 3 months now. I love these trades because you can buy calls at the bottom and puts at the top. Will be looking for a high $43 entry on Monday.
Price Target: $44.80
Liking this Double Bottom setup on TPR. This one is still a little Bearish and probably can slide another 15-20 cents before reaching it's support level. MFI reaching oversold conditions as well. If stock bounces off support, this one has a lot of room to run.
Price Target: $33.10
Last Week Recap
KO - Price Target: $45.60 - HIT
FB - Price Target: $165.75 - HIT
GS - Price Target: $193 - HIT
PM - Bearish Sentiment - MISS
AMZN - Bullish Sentiment - HIT
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