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- Weekly Focus List for 7/31 - 8/4
Weekly Focus List for 7/31 - 8/4
Every week we go over the top setups for the week while also covering the upcoming key economic data points coming out.
Trade with Dan
July 30, 2023
Economic Calendar
Upcoming Earnings
Main Focus List
$INTC: post earnings setup
Entry for calls: over 37 using the 8/4 37c
Targets: 37.60, 38.70
Commentary: On Friday, INTC was able to find support on a pullback at 35.50 and ended up bouncing where it closed just shy of the KEY 37 resistance. If INTC can get through 37 this week, it has room into 37.60 and then 38. I would look for calls if INTC is able to hold over 37. I saw a good amount of sellers at this level so if we can get the buyers to soak up the supply, this should be an aggressive move.
Chart:
$META: continuation setup from earnings
Entry for calls: 8/4 330c over 325.50
Targets: 328.80, 330, 332.36
Commentary: META had a volatile past few days as it opened up at 325 following earnings, sold off to 309, then bounced back into 325.50 on Friday. if META continues to hold over 325 this week, then gets a move through 325.50, it should be set up for a run into 329 then 332. This will be a top watch this week for continuation
Chart:
$NFLX: key support range
Entries:
8/4 430c over 428
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8/4 420p under 425
Targets:
430, 435, 438
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420, 413.80, 410
Commentary: NFLX was able to find support at the 413.80 support level last week and closed right under the 428 resistance. if NFLX can clear 428 this week then it should be able to get the test of 430 again and over 430 can trigger another 5 points of upside. If NFLX fails to reclaim 428 and breaks back under 425 then puts can be in play for a move back into 420/413.80
Chart:
$BABA: continuation setup over 100
Entry for calls: 8/4 102c off of 100
Targets: 102, 103.20, 105
Commentary: On Friday, BABA was able to get the reclaim of 100 and closed above. If BABA can get the dips bought up above 100 then it should be set up for a move into 102/103.20. I would look for pullback entries at 100 for a better r/r. BABA 102c can work as well over 101.50 for a continuation setup.
Chart:
