Week of 11/30/2020

By iamtez -

This blog is to provide US stock market analysis based on my experience. This analysis is based on Support/Resistance, RSI/MACD and Slow STO.

With stock markets near all time high, some caution is in order. The fear/greed index is very close to being extremely greedy which means we should see a decent short term pullback. Also, with thanksgiving break out of way, number of COVID-19 cases should see higher numbers for 1-3 weeks which would impact related stocks. While this means there will be some pullback in certain sector, it will open up opportunity in other sectors too.

I should have posted this last night as markets did pullback today as per my expectations. However, below are some of the options with good entry points.

AAPL: Jan 15 2021 125c @3.5. AAPL should run to 125 in next 1-2 weeks.

ADBE: Dec 11, 2020 510c @4.3. With earnings next week, this should test 500 before earnings.

ALGN: Dec 18, 500c @ 8.5. This should run to 500 by next week. Nice consolidation after big up move early last week.

ATVI: Dec 11, 2020 80c @1.25. I expect this to run to 83 by early next week.

NOW: Dec 11, 2020 540c @ 8.5. If this breaks 537 which I think happens this week, then it runs to 550+.

W: Dec 31, 2020 300c @5.25. I see this moving to 284 in next 1-2 weeks and if that breaks, then 300 could come soon.


Some other interesting setups include:

AMZN - Could go to 3300 soon

DOCU - Could run to 245 though little risky with earnings coming up.


Few to avoid:

ULTA - Could go back down to 256.

ZM - Has run hard and with earnings coming, best to avoid


Disclaimer: The views and opinions expressed here are my own. Before taking any financial decisions based on these, please do your own due diligence.

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