Watchlist 2023-02-24 #BA #NTES #TDOC #BND
SPY - pointing to a lower open coming up this morning ahead of significant inflation data. The release of the final core personal consumption expenditures price index on a MoM basis, which is the preferred inflation measurement of the Fed. SPY seemed to take this news negatively as we flushed down to the 396 support. SPY is in an expanding range, bouncing off key 296.00 support and back to 401.30. This can be a tricking market when we are range bound and not making significant lower lows and producing mostly fake outs.
Short Watches:
BA - Boeing Reportedly Pauses Delivery of 787 Dreamliners. Breaking 205.60 flat bottom support on negative news. Fakeouts above 221, tested the lower end of the range with a weak bounce. Also, rejection of the 2.3.60 level in PM, If market stays weak this is an A+ trade setup.
NTES - Earnings Missed Estimates. Wide range day PD and gapping down below the 80.00 pivot and PD bottom, and below the 200 EMA. Room to 75.
TDOC - continuation short
Long Watches:
BND - Forecast Offer 'Positive Surprise' with better-than-expected sales, earnings. Decent PM vol at 165K and RVOL is OK at 1.0. Breaking out of the 18.28 range with room to the next supply level 21.35. PM activity looks like sellers are coming in at 20 even. If we can hold the PM base at 19.20 willing to make the breakout scalp long. Else, need new support to form at 18.28.
Other watches:
FIVN, LCID, SQ
I focus on names trading elevate RVOL>2, trading past key ranges and pivots, preferably with news catalysts.
Yellow = Support
Purple = Resistance
Red = short opportunity
Green= long opportunity
Short Watches:
BA - Boeing Reportedly Pauses Delivery of 787 Dreamliners. Breaking 205.60 flat bottom support on negative news. Fakeouts above 221, tested the lower end of the range with a weak bounce. Also, rejection of the 2.3.60 level in PM, If market stays weak this is an A+ trade setup.
NTES - Earnings Missed Estimates. Wide range day PD and gapping down below the 80.00 pivot and PD bottom, and below the 200 EMA. Room to 75.
TDOC - continuation short
Long Watches:
BND - Forecast Offer 'Positive Surprise' with better-than-expected sales, earnings. Decent PM vol at 165K and RVOL is OK at 1.0. Breaking out of the 18.28 range with room to the next supply level 21.35. PM activity looks like sellers are coming in at 20 even. If we can hold the PM base at 19.20 willing to make the breakout scalp long. Else, need new support to form at 18.28.
Other watches:
FIVN, LCID, SQ
I focus on names trading elevate RVOL>2, trading past key ranges and pivots, preferably with news catalysts.
Yellow = Support
Purple = Resistance
Red = short opportunity
Green= long opportunity
Comment:
3 for 3