Pre-market Live and Options Picks for 12 18 2020

Let’s get right into today’s pre-market analysis. Really not much going on right now in my opinion, based on we’re going into the holidays. Especially hedge fund people, they’re already on their vacation. It’s the end of the year; it’s been a great year so let’s just slow down, focus on high-quality trades and stay green. I’m really only seeing two stocks worth watching this morning, pre-market. One of them is Tesla. If I actually go here, market watch, you’ll see pre-market screener leaders; there’s just no volume in anything. Laggers, Spaces got a decent amount of volume. Spaces has a decent amount of volume pre-market, could be fun. FedEx has a lot of pre-market volume, something to keep an eye on.

The most active is Tesla today. I’m also watching Winnebago. A friend of mine brought this to my attention. I like this set-up. What do I like about this stock? Let me go to six months, we’ve got a gap up, good earnings and this is a good catalyst for me. I like to see gap ups, good earnings above resistance. It needs to get above this resistance and then we can see a push to the 67, a little bit before 67. This here is a big resistance. You can see on the historical chart, we’ve got this uptrend right here, which I like. I’m going to bring it up a little bit more.

Then I like to go to the day and see what’s going on here. We’re in this channel; are we going to break down or break up? I’m watching this one. If we can hold this, or if we even come to here, we’re a little stretched from the 50-day simple moving average. We’re a little stretched from the 50-day simple moving average on the ten-minute timeframe but it’s good to check the 5, the 10, and the 15 minutes. The five-minute in this up channel, we could get a pullback to here, to the 61.29 area. Let’s see if this pre-market holds before the open. Yes, it’s already breaking down. This is a potential area to go long. It’s got Friday options. Could just stay in this channel and then make a little pop goes the weasel in the biz channel and then, potentially, pop up and make a run passed our pre-market high, which is actually here, so 65 is in the cards. If I zoom out a little bit, I can show you with this stock. It already has the potential to make a 60 to 63. A $3 move would mean 65. This is definitely in the cards right here, this trend line or this trend line.

I also sometimes like to draw one more trend line, which is here. That’s valuable data right there for us. It’s pretty steep though. It’s really like that. I like this, but like I said, I need confirmation. If you’re going to give it a shot, this is a in good area to sell, the 63. If we get that momentum and that volume, we could see 64.85 to 65 in the cards. It could happen. I’m really just watching Winnebago and Tesla this morning. I see a pullback with Tesla. Come on, give me a freaking break! Look at this thing. Amazing! Amazing price action with Tesla, really. Look at this on the year, guys. Look at this. Amazing! I’ve never seen anything like this in my life, and it just wants to go higher, really. Even on the RSI on the year, we’re not really overbought. Wow, incredible!

We know that Tesla’s getting added to the S&P 500 Monday, so this could be the final hurrah. Seven hundred really is in the cards. I would like to see a pullback to 660. I’d love to see it 660, but no, I’m not going to FOMO in here. Resistance, that’s for sure. Yeah, 700 is kind of a jackpot possibility today, big round numbers psychologically. Also, 675, 680 – well, it depends, so 650, 75, 7, these are nice quarter round numbers, so psychologically areas of resistance. Let me go ahead and bring that 675 down a little bit, 670. Golly, come on Tesla, give me a pullback. We’re also a little bit overbought on the RSI on the five-minute. Tesla can do that little pop and drop, so it’s kind of a head fake, but I will look to go long at this 660 area.

What else do we have going on today? Really that’s about it. Space, there’s a lot of pre-market volume, more than Tesla, so I wonder what’s going on here. I’m going to go out to the six-month. Wow, we’re really down. Wow! Okay, so that broke. We were in this pretty much historical up channel for a while; now we’re in this down channel. Do you know what? I’m just going to keep it around there. Then we’ve got, looks like, maybe a bottom right here. Not really interested in Space. I don’t know what the news is, but I see a lot of overhead resistance already on this name right here. Yeah, we’re breaking down. We could get a balance, though, actually off of this, but yeah, this is not really an area for you to really want to go long or short. This is kind of a natural area of resistance/support. This area, too, looks pretty promising.

Let’s go to the day. I’m going to go out to the 15-minute time frame. I don’t really feel like trading this one but here’s a great opportunity for you guys if you want to go short or long with this name. Here’s your down channel right here. Depending on what it does, I wouldn’t really try to go long or short here. I would look to go long off of here, or here, or go short here, or here. Pretty much it’s in this locked down channel. This is a good area for a bounce. I don’t really like this. I’m not feeling it, but I’ll keep an eye on it.

That’s all I got, guys. Good luck today. Let’s make some green and let’s have a great day trading. Happy Friday!

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