Dave Barnhart breaks down $2.2 billion in AMAT block trades and the key levels to watch. Bullish above $654 with targets toward the low $700s, bearish below $630 with downside targets in the high $500s. He uses 200 SMA, 50 SMA, and pivot levels to map the trade setup.
Chapters
These are the largest prints in the last 30 days, and we can see— I always do this every video— that we can see how the price action works against the dark pool. So we can see here, going back 1 month, we have this consolidation of prints, 800K, 500K, things like that. And we can see here, this is a great swing entry here, increasing volume there. But there were 2 prints there, we pulled back, got more prints, and you can see how this opens, tests the prints, moves up, high volume, back to the print, and then we're off to the races again. But we've had this consolidation over the last couple weeks, which you can see we've moved up. Massive volume on Friday, and now we're breaking above. So this one came back and tagged the 4 exponential moving average almost this print, and now we're moving up. So we can retrace back to this print level, or we can move up, and clearly we can go sideways, but we've got a plan either way. If something happens, we can trade it with our trade setup. So we are bullish above— well, I had $651 originally, now we're at $653, so let's set this up to $654. Bullish above $654, target $665.33. 660, 670, 74, 53, 680, 90, 700, 712. 72 is R3, which is usually overbought. So anyway, this is— it's much easier on the upside. Looks at the downside, we're bearish below 630. So let's get below here. We've got my 200 simple, 200 exponential. We got a pivot cam. We've got these moving average here. There's the 50 simple. This is all the post-market, so I know it's a bigger Move from here down to our entry point. So on the downside, but this is all noise, and it's not a very safe trade. So bearish blow 630, target 623.34, 619.84, 617.11, 124K, 1634, 612.50. You can see this one: 606.50, 605.84, 598.15. I stopped here at S2. So you can see how there's lots of things that would probably bounce if we're gonna move on the downside.
