Dave Barnhart breaks down day-trade setups for ServiceNow and Arm, mapping bullish targets at $147.15 and $407.26 respectively. A $144M dark-pool print at $308 in Arm signals institutional accumulation. He uses ATR-based stops and early profit-taking to manage risk on momentum trades.
Chapters
Good morning, traders. It's Monday, June fourth at four twenty-three a.m. All right. Lots of tech stuff and things are on the move. It was easy to pick stocks this morning. We've got ServiceNow and we've got Arm. So ServiceNow, we've been calling out. I took profit on my trade on Friday. I had a four dollar wide call. So when this gapped up here, I took well a hundred percent profit on my on my trade. And then we're continuing on. I guess maybe I should get into another swing. But let's Anyway, here are the largest prints in the last week. We usually do the whole month and we've been covering that one. So look at all of the prints here— 450K, 800K, 200K, 900K— and that's all in here. See, you see this little doji? You can barely even see it, but we've been consolidating sideways, moving above the prints. And then Friday we got all of these ones up here, and now we're taking off. So they've been adding to their position In these areas where it's just consolidation, and now we're breaking out. So let's go ahead and map this out. We're going to be bullish above 134.50. We're very close to that, so the next would be 135, maybe the high of this candle. Yeah, 135 target, 136, 137.50, 138.70 is R3, 140, 142.50, 145, 147. 15. This ATR here is about $6.29. So just mind your 50-cent levels and dollar levels and see how it, uh, it plays out there. Take a little bit of profit at the beginning. It's those that pay the bills over time. If it pulls back on you, you've already got something on the table. So let's, um, let's get below $133. Target 132, then we've got 130.25, then we've got 129.02, 127.31 down here. 127.31, that's a 50 simple moving average. 126.69, 125.92, 125.14, and 124.37 as retracement to this print. Right down here, and so this if if we were going to come back and test the print, and then if we tag that and then start moving up, that would be another good entry point if we break above those cams. All right, let's go ahead and look at Arm. Okay, so Arm's been on a tear. Here's the largest trades in the last week. We haven't looked at this one for the month for a while, so let's go ahead and do that. You can see here 300k, 400k, 400k. Like these are millions. Of dollars, and so you see the consolidation here doesn't look like there's a lot of volume, but the institutions were accumulating. And so for my swing trade entries, increasing volume, no wick on top, breaking above prints, and you can see that this was a great entry for Arm May 20th. Moving up, they're adding to their position, and we know that because we're continuing on the move. They've got all of this. Below us and things are taking off. So let's go ahead and map this out here. We are going to be bullish above $383. Let's get above this target, $387.81. Then we've got $390, $395, $400, $405, $407.26 is R4. This is clear sailing. All the way up. You've got 2 really nice big pockets. The ATR in this one's about $22, so you can expect a larger move. That's why I have wider targets in there. We're going to be bearish below $377. Let's get below these right here. $377 target, $375, $370, $368 is the CAM. We've got $370, $368, $336 is our 2. Then we've got 363.83, 358.64 down here. Then we've got 356.86 is the CAM. That's the 50 simple moving average sitting there, 355.07, and 353.50 is this 112K. And you can see this 112K all through the post-market just sitting on this. And then we gapped up above. So let's see this. You can see that the upside is much easier. These you've got to scalp because it's so strong. If you're going to take a retracement trade, you have to be very careful. These, these are tighter, and you can see this increasing volume here, and it's been kicking off. So if you're gonna scalp on the opposite side, just be careful with that. All right, there you have it. Those are your 2 trade setups for today. So please like, share, and subscribe. We have our weekly Weekly Dark Pool Report. I think this is week 9 that went out yesterday. You can still subscribe at any point, mobiticktrading.com/weekly-report. First name, email address, and we do swing trading. So we've got, uh, 13 stocks, SPY, QQQ, IWM, plus a whole bunch of stocks that are slated to move. We have a scorecard looking week over week, see how we're doing. And yeah, you get the charts with the prints and the setups and everything on it. So go ahead and do that, and it's a nice read Sunday mornings at 7 AM Eastern. You get that. All right, happy trading everyone. We'll see you tomorrow with all new trade setups. Take care. Mobitick has partnered with TrendSpider to bring real-time institutional trades to your charts. Click the link in the description below for more details.
