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Momo Market Roundup, 3/11/2022 — $SPY Gap Up Reversal… $Futu Chinese Delisting Fears… $TSLA Drop It Without Pop… $DOCU Earnings Blunder 

 March 11, 2022

By  spectre_trades

$SPY Gap Up Reversal

SPY gapped up big time into our 432 watchlist level during premarket trading… and then it was a nice slow fader for most of the day. If you jumped in to the downside at the market open on the vwap rejection you had a pleasant day. The 428P were going for a mere 2 bucks and moved as high 6.6 at the 421 target.

$FUTU Chinese Delisting Fears

FUTU and other Chinese stock names plummeted at the open before recovering somewhat into the end of the day. 28P was .3 cents if you grabbed them at the open… went to 2.5 at the 26 watchlist level and continued further to top out at 3.6. These names have fallen drastically and may be prone for a bounce once fear subsides.

$TSLA Drop It Without Pop

TSLA has been on a sell trend the past few days and today it finally made it all the way down to the 800 area. Great risk reward to get short on the 838 watchlist level break targeting 810 and 790 respectively. 820P were super cheap at 3-4 bucks and hit a high of 23.65 before getting some bounce. Later on came very close to our 790 level and hit 26.  Nice 1:6 risk reward!

$DOCU Earnings Blunder

DOCU had earnings last night and what a mess.. This name was 300 not too long ago and now we are sub 100 and looking to head lower. DOCU opened quite a bit away from our 78.5 watchlist level but if you were patient and waited for a vwap test you got a nice low risk entry. 75P was only 1 dollar around vwap and made a nice move in our favour stopping about a dollar shy of our 70 target for a whopping 4 bucks. 300% gain!!

Two Hour Trader Student Results

spectre_trades


Momentum Trader. Technical Chart Analyst. Always on the hunt for 3x or better reward to risk.

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