Weekly Options Watchlist - 4/1/19
Check out the TOP Stocks we are looking at for this week! Charting, analysis, breakdowns and more below!
The channel on ABBV is still ongoing. We played puts from $81.50s to $79s last month and have kept a close eye on it ever since. It is currently approaching the $81.50 resistance level. Wait for this key level to hit before entering. We want to watch for the rejection of the resistance and then take a position.
Sentiment: Bearish at rejection of $81.50
Price Target: $80.00
Looking at KO’s recent journey we can see a bounce off a crucial support and slowly making its way up to the gap. There is a lot of momentum in KO right now but the technicals to prove to be overbought. However, if KO can burst through $47.00 I believe it will make movement to fill the gap up to $49.50.
Sentiment: Bullish over $47
Price Target: $48-$49.50
We’re still keeping a close eye on UAL. It fell through support last week when the market slipped a bit, however, it has recovered and is right back at the support. If it can break $80 and hold I feel like $82.00 will be next.
Sentiment: Bullish beyond $80
Price Target: $82
There is some pretty decent resistance at $139.80s. The price has already rejected this level 2 times this year. If price fails to hold again I foresee another fall back to mid $130s. If price breaks out this could move to set new yearly highs.
Sentiment: Bearish at rejection of $139.80
Price Target: $138
This has been in a steady uptrend for a while. Looking at the daily chart this trend line has held even with the market dips of last week. This trend line was started at the very beginning of 2019 and hasn’t been broke yet. As long as it continues to hold this will move closer to $41+
Price Target: $41+
Overall, banks have had a nice recovery from their dip. GS had some news with Apple, upgrades to buy and as the overall market shifts to stabilize we believe GS will be a solid pick for the financial sector. The current channel shows GS potential to reach $199.50-$200.00. However, we would need to see a cross of $195 first.
Price Target: $195-$198
ALLY has broken up through resistance of $27.30s on Friday, this stock has been trying to break that level for 6 months+. Expect this one to have a further run-up now that it has broken through this key level.
Price Target: $28.35
Excellent setup here on COST. This stock has broken through $240 Resistance level and quietly having a cross of the 50SMA up through the 200SMA. This is a very bullish indicator, expect COST to continue its run to the upside.
Price Target: $247
Nice rising wedge setup on NVDA here. I think we at least see a test of $184 at some point this week. If we get a break through of $184 get ready for a big move to the upside. We could see close to $200 if we break through. This one still should be good for a run up to test $184 resistance point.
Price Target: $183
Last Week Recap
TGT - Price Target: $76.20 - MISS
UAL - Price Target: $82.00 - NO SET UP
ABBV - Price Target: $77 - MISS
NVDA - Price Target: $170 - MISS
TSLA - Price Target: $275 - HIT
COST - Price Target: $228 - MISS
CMCSA - Price Target: $39.50 - HIT
MCD - Price Target: $183 - HIT
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