Weekly Options Watchlist - 3/25/19
Check out the TOP Stocks we are looking at for this week! Charting, analysis, breakdowns and more below!
Target is currently sitting at a nice resistance point that goes back as far as 2016. With the current market conditions I feel like $79.10 is going to be hard to close above. On top of this every time the MFI as become overbought on this weekly level there has always been a pullback and profit taking. My first PT is $76.20 then will look to see if the last gap can be closed into the 73s.
Price Target: $76.20
I still like ABBV puts at this level. There has been a heavy amount of resistance at $81.50s and some fair support at $77.00. With the market conditions as they are right now I believe ABBV will fall down to $77.00 which will be my first price target. If the price bounces I may exit, however, if we break through $77.00 this will be lowest price point since 2017.
Price Target: $77.00
Airlines have been trading a little up and down lately. The current support of UAL at $79.50s seems to be holding even with our current pullback in the market. This support goes back beyond our bearish months of 2018 and I believe if this $79.50 can hold there can be some money to be made. I would wait for the confirmation of the bounce off support and would buy calls at $80.00.
Sentiment: Bullish beyond $80
Price Target: $82.00
Costco has recovered quite a bit since November of 2018. However, it has now approached a resistance point. As the market looks to fall back some I anticipate Costco will do the same. Look for the rejection of $238.00 and a decline back to $228. If this level breaks I believe we fall to the earnings gap of $223.00. If the price does not hold $223 then the gap could likely get filled bringing my last PT to $219. Be careful with COST though because if typically fluctuates with the market very well. If SPY has another rally and COST ends up breaking through this resistance point it could very well make moves to new all time highs.
Price Target: $228.00
Comcast has been on a nice uptrend this last couple of months A pretty solid trend line has formed since the beginning of 2019 and it has failed to break it yet. I believe CMCSA will fall to roughly $38.90 and then if the trend line holds it will bounce up from there. This would be a great buy opportunity to ride back up to $39.50-$40.00
Sentiment: Bullish on bounce of $38.90s-$39.10
Price Target: $39.50 - $40.00
Chart on MCD looking very good. Closed Friday on an Inverted Hammer candlestick right near Resistance level on the daily chart. I am expecting this to have a nice slide to the downside this week after the strong run-up it has had the past few weeks.
Price Target: $183
NVDA has had a nice run-up as of late, it has filled its gap down from back in November but it rejected $184 resistance point pretty hard on Friday, I expect this to slide further after that rejection.
Price Target: $170
Been waiting for TSLA to get to this level for a buy. I think this could be a great 1-2 week swing to the upside. You have to go back about 2 years to see a time when TSLA was below $255. I think that is the lowest this would go before seeing a big bounce to the upside. Monthly expirations could be big money.
Price Target: $275
Last Week Recap
JWN - Price Target: $44.80 - HIT
TPR - Price Target: $33.10 - HIT
ABBV - Price Target: $81.50 - HIT
BWA - Price Target: $38.60 - HIT
AMZN - Price Target: $1,680 - MISS
PEP - Price Target: $115.50 - MISS
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