We’re going to be taking a look at what I’m seeing today. BABA, I’m going to go ahead and blow up my screen right here [00:44] so you can see a little better. We’ve got this line right here [00:58], so I’m waiting for a pull back and retest of this support on five-minute. There’s not much overhead resistance above. There is right about here [01:12] at 251 or 252.20. I’ll just call it 250, 220. I’m going to be looking at getting long BABA today, 250 strike price. That’s what I’m looking at there.
Let’s just go through the charts, INTC. Let’s see what I see on the INTC. Holding gains, we’ve got this up here [01:58], area of resistance. That was pre-market the other day. What a pop that was, just up there and stayed. It could be nice. I know INTC has a hard time with holding gains. There isn’t much overhead. There isn’t much room above. Resistance from past. Zero this out. Seeing resistance up here [02:58]. Support and resistance, it’s the name of the game.
I’m going to put one right about here [03:06] because it’s in the middle. Let’s go back to the 10-day time frame on the five-minute. Not much room above. I’m going to get the 35 calls. Pull this [03:53] out a little further. I think we’re going to shoot up by the time market opens, but we could get a push up through here [04:07], and then a pull back, and then a second push up to the 35. I just have to play it by ear today with this one.
BABA I like, SPCE I like, INTC mmm, EKNG, go through our list, the short list. EKNG doesn’t look too obvious. These are sometimes the best trades, the ones that aren’t super obvious for a lot of reasons. I like that we’re getting close to an ascending triangle pattern.
This [05:09] is pushing its way up, and then it can go up. I was looking at DKNG the other day, the options chain. I’ll show you what I saw on the January 21 on the 50. Let’s go over here [05:28] to options volume and open entrants. See this 55 out of nowhere. It’s huge open entrance to 54,000. If I go back to the charts, and we look where is 54. We’re right at 54 now. Actually, we’re already in the money. Yesterday might have been the time to get in on this one now that I’m thinking about it. Maybe if I go to the 15-minute, let’s see what that looks like [06:39].
Let’s go to GM. This was the trend here [07:12]. It broke, and it’s sideways. One, two, three, this [07:36] is after hours, and this [07:37] is after hours, so one, two, three. Two days up and then pre-market up. It’s down and sideways but look how it’s holding that nice and tight. I think it just got an upgrade to a price target of 56. I’ll go to the options chain. Then go down here and look at the 55. Look at that 55, 23,000, 55. This [08:40] is up here. I’m going to zero out this [08:42] line. Put as resistance.
Visually, you can visually see this resistance area. I have to just keep an eye on it at the market open. Most of all, I think I feel SPCE and BABA. The SPCE 35 calls and BABA 250 calls is what I’m looking at for the first two trades of the day. BABA I got to see a little bit of a pull back at the open. Maybe to the 15-minute time frame. It’s looking a little unlikely right now just given my years of trading. I want to see down, and then it touches it down. Then it gets above it. It comes to this [10:03] area down sideways. Then right there would have been a good area to get long.
Also, on the daily, on the 15-minute timeframe, close to the stochastic, slow sto 20. Right there [10:30] with that 24 and then up and away we went, all the way up to this 90. That was a pretty good run, guys, if you got in that. With this, we’re already up here [10:48]. I don’t know if I can really go long. If we go to a shorter time frame, the 10 minute, and then even a shorter time frame, the five-minute, we’re still way RSI up. This [11:08] is up.
Then let’s go to the five-minute. I just really need to pull back before I go into my 250 calls. I mean, usually if you get this morning burst, and then pull back, test, and then back up again. On the five-minute timeframe, I want to look for something else just so you can see yesterday’s price action. You want to get in when it’s here [12:19] and go long. You might have gotten a little nervous and wanted to sell it here [12:26]. You could see also here on the RSI. That’s why I use the ADX and the RSI.
I get in here [12:38] close to the 20 RSI on 5-minute. This is a good pop. I’m looking for this [12:49]. I’m looking for the 80, 79, 80, 82 RSI. I want to see this [12:58] trend maxed out. I want to see the slow stochastic above here [13:06]. When all this [13:07] is lined up is when you want to sell. You get in here, low RSI, low stochastic on the daily timeframe. It’s going to be a little different for each stock, BABA, ZOOM, AAPL. This [13:22] is where you want to get long. You don’t want to get long up here [13:27]. It’s still okay.
This [13:38] could have been a good area to sell, but this pull back around has just totally exploded. I like to wait. Small positions keeps the emotions under control. You’re just thinking logically. This [13:52] is where I would have sold. I would have got back in at the end of the day. This [13:57] has got to come back a little bit, 50% retrace. I had this [14:01] line from a big, long, historical resistance area. That helps you too. Once it got above here [14:09], came back to retest it, and just boom, off to the races. I’m expecting something similar today with BABA and SPCE.
FCEL’s dead. It’s got a downgrade. NKLA could be good. I wanted to look at Airbnb. That’s all I’ve got for today. I hope you learned something. God bless. Have a great day.
