Fisker ($FSR) looks primed to break the $23.60 resistance. If it does, then $32 and above is on the table. Watch for a breakout and a retest. If it hold, let's go long and #bank!
DraftKings, after another terrible earnings, looks to be falling below the neckline of a bearish head and shoulders pattern. It looks like there is room to $30, where we will likely see it bounce a bit and need a good catalyst before it gets over $40 again.
It looks like we are going to get a 4th test of the $120 resistance area this week going back to 2018. If this accepts over $120, look for a powerful move up towards $155. If it rejects, look for support at $106 and $97.
Home Depot ($HD) is flagging and looks ready to break out.
First target is looking to break above the flag and then to lift that past the next fib level of $375. If we can close above $375, there is room to $420.
On the weekly chart, $BABA looks like it has found support at $155 and is forming a reverse head and shoulders pattern. I'm looking for one more touch of $155 or slightly lower, followed by a close above the $155 support to start adding a long position. A break above the downward resistance trendline would confirm a bullish break upward and $180 giving us our next...
Facebook looks like it hit a double bottom and is now trying to gap fill back up to $338 - $340. Looking for volume to break $326 first as confirmation of move. Long.
Merck is looking primed for a run into the $90's or higher after breaking 2 years of accumulation on the weekly chart. Ideally I want to see this hold the $84 support level and then bounce back through the all time high's.
There is also huge call flow the past two days. One option chain that is getting some attention is Nov 19 $90 calls.
Morgan Stanley also...
