Pre-market Live and Options Picks for 01 20 2021

Let’s get right into today’s watch list. I’m going to go ahead and blow this [00:35] up. KO upgraded. Some resistance up in here [01:02]. Key resistance up in here [01:07]. Zero this out at the 49. I’ve got a big gap window to fill up here [01:32], some pivots. Here’s [01:35] another low pivot.

Coca-Cola, maybe it can be good, but it’s always been a boring stock for me to trade. You could almost imagine a little bit of a bottoming here [02:10]. The trend could pop, drop, squeeze. I’m on the five-minute time frame. I don’t think Coca-Cola’s going to squeeze, but you never know. Definitely not going long up here [02:34] on the stochastic indicator. Pretty high, we’re already at 80-something. I’ll keep an eye on it.

PLTR, I think I got an upgrade. Again, we’re really high on that. I see some resistance right here [03:18]. I see some support, visually, right here [03:35]. We’re out at 26.01 in resistance and at 27.57. A little bit more, you could make a case for right here [03:53]. I’ll have to check the options chain. I could get, say, the 27-strike, maybe get the 27-strike price or the 28.

I’ll take a look right now, the options chain for this week’s expiration, January the 22nd. We’ve got a lot of open interest in that 30 strike. Second largest would be the 28. I think I’m going to get the 30 strike if I take this [04:56] trade today. I’ll probably wait for a dip buy opportunity or the stochastic. I’ll just wait for support. You buy the dip, sell the rip. It’s good to know where resistance is coming. You want to get out when coming close to resistance. It usually gets rejected off of resistance. There goes a lot of your profits.

What else were we going to look at today? DKNG, Draft Kings, it got an upgrade. DKNG could be good, some overhead resistance right in here [06:00] at the 54.44 area. We’ve also got some good support on the downside here [06:14] at around 51.73. This [06:25] is a gap window, so I think we’ll fill it. We could even bring this down a little bit more to right about there [06:33].

If I go to the five-day time frame on the five-minute, we can leave it on the 15-minute for now for all intents and purposes. Again, just overextended. I can get rid of that [06:59]. We don’t need that one anymore. What I wanted to do was pull this one out and zero it. Go back to the five-minute. Could be a little dip, and then a push, and then probably maybe a retest. I’m going to be watching my RSI. Right now, it’s looking a little oversold on the RSI.

What else do we got? We’ve covered PLTR, KO. Let’s look at Netflix. Netflix is going to go to 600 today, not financial advice, just my opinion. I can go in here [08:31] and look. I’ve got to increase the strike price near 600. Give it a second to load. Nice open entrance right there [09:07] at that 600. You have to be careful with these things. Sometimes it’s over. It’s not actually people who are buying calls or selling calls at the 600.

With this one, I’m going to be real patient on it. I’m going to be looking for this 50-day simple moving average on a couple of different time frames, 5, 10, 15. I’ll draw some lines, and we’ll figure out where the support is. We’ll figure out where resistance is. Historically, if I go out to the year-to-date, scroll back a little bit. We’re missing some data here [10:07], right here. We’re missing a lot of Netflix.

Go to the five-year on the weekly time frame. There we go, right there [10:43]. Zero that out. Then let’s go see where we are. You could say support is almost here [11:05]. Zero this out. Go up to the five-day on the five-minute time frame. Look at that [11:21]. How about that? Stops right there [11:25]. I’m going to be keeping an eye on Netflix today, and then our old friend SPY is always on my watch list.

That’s pretty much it for today. There could be a continuation on Facebook. Like I said, let’s just keeping an eye on things. Play what we see accordingly. God bless. I’ll see you on the charts.

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