It's time for me to get into the habit of putting a watchlist down again, even if only for myself to have these charts more in the front of my mind vs. chasing index moves. Strangles paid off well for me in February and early March, but the chopfest during the lower consolidation has not been ideal. Premiums have been too steep and any retracement crushes IV either way. Last week was rough for me. Hence why I need to get back to focusing more on individual names. Top charts for Monday:
ConAgra (CAG) - Finally stuck its head above the trend line. If it can break 32, it has room towards 35+ as a swing trade.
Moderna (MRNA) - I have been covering this on Twitter for awhile now, but the next move is a bigger breakout over 35/36 range into the mid 40's. Just like ZM I believe this can go higher than most think once the breakout builds above the range. I'm long calls already. Will add when it starts to get the next leg up.
Peloton (PTON) - Testing a key resistance level that could take this into the mid 30's this week.
Livongo Health (LVGO) - As the chart suggests I'm bullish on a breakout over 30. Swing trade setup.
Walmart (WMT) - Watching for a breakout over 120.
Occidental Petroleum (OXY) - If oil continues to bounce keep these beat-up producers on your list. 15 is the key spot to start working on the gap fill in my opinion.
PENN - Watching for a continuation move from Friday over 10. Probably just a day-trade if its there.
TDOC - Watching to see which way the wedge breaks. Will trade accordingly. I'm long some 4/17 calls that are deteriorating. If it fails I'll turn it into a strangle thru 150/140 puts. If it breaks to the upside, I'll add calls further out.