by maxoptionstrading
FB Analysis
FB has been trending in an upward channel divided by a top and bottom half. On Monday last week it has broken through the middle into the bottom half, tested the 55 EMA (green line) and passed the test, meaning it held the level. $270.50 will be the key level to watch this week.
If it can hold $270.50 it has room to test $280, if that is claimed, then room to the middle of the channel at $285.30. If that level can be claimed, then room to $292.50
If it cannot hold the $276.50 level, then room to test last days’ lows around $274. If that level is broken to the downside, then it has room to test the 55 EMA (green line) at $269.50. It is also the bottom of the channel, so will be a very strong level to test. If it breaks that with conviction to the downside then room down to $259 and lower.
Overall Sentiment: Neutral/Bullish Options: If it holds $276.50 then looking at NOV 27 $290 Calls: If it cannot hold looking at Nov 27 $265 Puts.
FB Chart: www.tradingview.com/x/UoLXYMaY/
AMZN
AMZN has been one of those stocks impacted positively by the pandemic. It has been performing very well in the last months. Nevertheless it has been in consolidation mode recently trading between $2870 and $3550. At th moment the stock has been rejected by the 55 EMA (green line) to the downside, and is now slowly retracing back up to test it. The key level to watch for this week will be $3110.
If it can hold $3110, then it has room to the 55 EMA (green line) at $3160. If it can reclaim that level then room to test $3225. If it can claim that level, then room to $3289.
If it cannot hold $3110 then room down to test $3080. If that level cannot hold, then room down to $3020, and if that doesn’t hold, then room to test ercent lows at $2951.70. Next level after that is a strong support at $2871.
Overall Sentiment: Netural/Bullish Options: If it can hold $3110, then looking at NOV 27 $3200 Calls: If it cannot hold the NOV 27 $3110 then looking at $3050 Puts
Chart: www.tradingview.com/x/G0uvHnf4/
AAPL
Apple is the most popular stock out there. After an incredible run it has been consolidating between the $100 and $135 range, getting tighter and tighter as the weeks pass since it hit All Time Highs early September. It is currently, trying to reclaim and trade on levels above the 118 support. $118 and $115 will be key level to watch this week.
If it can hold the $118 level with conviction, room to $121.50, and if it holds that it can test $125 which is recent highs.
If it cannot hold $118 then it will go down to $115 and test the 55 EMA (green line). If it cannot hold that then room to $112.25.
Overall Sentiment: Neutral Options: If it can hold $118 looking at the Nov 20 $125 Calls: If it cannot hold $118 looking at $115 Puts, if it starts to fall hard then roll into $110 (lots of volume and cheap)
Chart: www.tradingview.com/x/yOMyBAvw/
Disclaimer: This information is only for educational purposes. Do not make any investment decisions based on the information in this article. Do you own due diligence or consult your financial professional before making any investment decision.