Options Watchlist – 2021-02-15
Weekly Watchlist: $OTRK, $KERN, $FUBO, $CLOV, $HYLN, $BLNK, $PTON, $WWR, $COTY, $IPOF, $KPTI
The following is my watchlist for the beginning of this week. It includes my entry and exit targets and some other information. I am not a licensed professional trader. Every trader is responsible for their own decisions for their own portfolios. Please trade to your own plans and risk tolerance.
The order of listings is not indicative of my degree of confidence in each. Please perform your own analysis and review and decide which, if any, are best for you.
OTRK
$OTRK has twice tried to get to the $100 barrier in the last couple of weeks. But, there is also a 161.8% extension providing an additional layer of resistance at $99.05.
Additionally, the 21D EMA has provided for additional resistance below the 100.0% extension lately, as well. And the 34D EMA is almost to the 100% extension that could also signal a push up.
I look for OTRK to retrace a little more before having the energy to make the push back up to test the 100 mark. I look for an entry around 79, with a target at 100.
KERN
$KERN has had a nice run up this year and looks to be ready to try for the next leg.
Using the first run-up in mid-November, $KERN has obeyed the fibs as it has been moving upward. For the last jump up, the 21D EMA also served as good support for that bounce.
I am looking for an entry around 7.10, as the 21D EMA moves up to that level. From there, a jump through 10.40 is likely, and is my target.
FUBO
$FUBO has been on a number of watchlists over the last couple of months and has been on a little bit of a roller coaster, reaching a high on 12/22, and then retracing back to where it started and been moving a bit more slowly up the charts toward its high since then.
The question is, where is the support for its next move up? The 38.6% fib at 39.60? The 50.0% at 43.94? Or, does the 21D or 33D EMA serve as the best support, especially in conjunction with the fibs?
For those following, my strategy is to find the support and try to enter around that support to provide minimal risk. So, from a conservative standpoint, I’m looking at an entry around the 33D EMA at about 41 (a little above the 38.6). From there, I will be targeting 54.44.
BLNK
Though not an EV itself, $BLNK manages a critical component for EVs.
The 21D EMA has been support for the last few months. The 161.8% fib has also been support for the last month or so too.
I am looking for a quick wick down to the 33D EMA for an entry around 48, and then for a target of 59.50.
WWR
Looking at WWR again after retracing after coming close to the 78.6 extension.
The 21D EMA appears to be a trigger to propel WWR upward as of late, particularly when it crosses a support fib and a candle wick meets it.
I am looking for an entry around 8.00, with a target around 12.
CLOV
SPACs are often a bit of an enigma and a gamble. But some do catch attention.
In the case of $CLOV, it looks to be one that is ready to take off after retracing from its high in early January. I am looking for a little more of a dip to enter around 11.50, with a target around 16.
HYLN
$HYLN is getting some attention and had a huge volume spike associated with a big green candle last Thursday. Going a conservative route, I’m looking for an entry around 16. From a target perspective, 25 would be the primary target, with a stall around 22.
PTON
$PTON has been consolidating since the end of December. It may be starting to come out of the consolidation for some upside. The 33D EMA is now in play and serving as support. Looking for a little dip in a daily wick to pick it up around 143.50. From there, a target of 167 would be feasible.
COTY
$COTY has been consolidating since mid-November, with the 100.0% extension as resistance, and the 78.6 and the 55D EMA as support. As the 55D EMA and the 78.6 are about at the same level, this could be ready to bounce.
I look for an entry around 6.50, with a target around 10.50. A stall target would be 7.60.
IPOF
The 423.6% extension for $IPOF has been resistance at about 16.50. The 33D EMA appears to be the bounce support for pushing up the price. An entry around 14.25 is preferred, with a target of 16.50 on the upper bounds.
KPTI
$KPTI is bouncing around in a range, with 14.50 as a support and 17.12 at the top (occasionally bouncing up to the 17.73 fib). I am looking for an entry at the bottom and an exit at the top.