2024年6月23日星期日

Stocks on Radar this Week - June 24, 2024

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Good Evening Traders,

We should be in for an interesting week after lasts weeks OPEX. We have a few fed speakers this week early on, PCE and Consumer sentiment on Friday which should drive the market from a macro perspective.

The technical's remain very strong, sitting near all time highs with the core 10 Mega cap names driving the price action which we will continue to keep a close eye on this week. 

Now let's dive in and take a look at what I am seeing in the market this week from a technical standpoint:

SPY & MARKET OUTLOOK

$SPY Market flagging to the upside early on this week with room for continuation if we see confirmation. 544.42 will be the pivot to the upside this week. This level holds, room higher into the 547.21 resistance, breaks we see the 552.98 level tested. Pivot unable to hold, room lower into the 542.33 support, this level breaks 539.45 will be tested.

Leaning Bullish neutral, looking for continuation this week higher.

Options Note: Pivot holds 550-552 weekly calls. Pivot unable to hold 540-438 weekly puts. 
FAANG
$AAPL Pulling back to the flag support on the daily here. 206.28 will be the pivot to the upside this week. This level holds, room higher into the 211.90 resistance, breaks we see the 219.33 level tested. Pivot unable to hold, room lower into the 200.77 support, this level breaks 197.15 will be tested.

Leaning Bullish neutral, looking for continuation this week higher.

Options Note: Pivot holds 211-215 weekly calls. Pivot unable to hold 200-197 weekly puts. 
$AMZN Range break on the weekly setup, h/s to be tested early on this week as well. 190.09 will be the pivot to the upside this week. This level holds, room higher into the 191.81 resistance, breaks we see the 193.96 level tested. Pivot unable to hold, room lower into the 186.11 support, this level breaks 182.85 will be tested.

Leaning Bullish neutral, looking for continuation this week higher.

Options Note: Pivot holds 192-195 weekly calls. Pivot unable to hold 186-183 weekly puts. 
$NFLX Flag setup on the daily for continuation. 690.42 will be the pivot to the upside this week. This level holds, room higher into the 698.94 resistance, breaks we see the 709.16 level tested. Pivot unable to hold, room lower into the 677.65 support, this level breaks 664.65 will be tested.

Leaning Bullish neutral, looking for continuation this week higher.

Options Note: Pivot holds 700-720  weekly calls. Pivot unable to hold 660-640 weekly puts. 
$META Flag test on the daily to the upside here on the downside.  493.65 will be the pivot to the upside this week. This level holds, room higher into the 503.50 resistance, breaks we see the 514.08 level tested. Pivot unable to hold, room lower into the 483.80 support, this level breaks 473.59 will be tested.

Leaning Bullish neutral, looking for continuation this week higher.

Options Note: Pivot holds 505-510 weekly calls. Pivot unable to hold 480-460 weekly puts. 
$GOOGL Flagging on the daily to the upside with room for continuation into all time highs. 178.90 will be the pivot to the upside this week. This level holds, room higher into the 181.14 resistance, breaks we see the 184.10 level tested. Pivot unable to hold, room lower into the 176.03 support, this level breaks 173.34 will be tested.

Leaning Bullish neutral, looking for continuation this week higher.

Options Note: Pivot holds 180-183 weekly calls. Pivot unable to hold 175-173 weekly puts. 
INDIVIDUAL NAMES ON RADAR
$SMCI Flagging on the daily with room to the recent range high. 916 breaks room higher into the 973.92 resistance, breaks we see the 1013 tested.
Alert: Bid>916
Options Note:
1000 weekly calls
$ADBE Flagging on the daily to the upside here with room for continuation. 534.65 resistance breaks room higher into the 549.26 level, breaks we see the 560.94 tested.
Alert: Bid>534.65
Options Note:
540-550 weekly calls
$NVDA Watching the flag breakout area at 130.91 after the pull back to the ema support, confirmation key for continuation. 130.91 breaks room higher into the 135.44 resistance, breaks we see the 141.14 tested. 
Alert: Bid>130.91
Options Note:
131-135 weekly calls
$WDAY Curling off the lows, back above ema support with room for continuation here if we can break and hold above the 220.11 area imo.
Alert: Bid>220.11
Options Note:
220-225 weekly calls.
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