A MobyTick trader breaks down swing-trade setups for MRVL and AVGO using dark pool prints. AVGO saw a massive $740M print at $439, with bullish targets up to $517 if it holds above $500.50. MRVL shows 1.7M share prints with targets to $355.91 on the upside and $303.92 on the downside.
Chapters
Good morning, traders. It's Wednesday, June 3rd at 4:13 AM. All right, 2 stocks for you to trade today. We've got Marvell, which is on fire again. We called this one out yesterday and it rocketed up, and we're already up a bunch, another $45. The ATR on this thing is $18.88, so we're already more than twice the ATR at the time. So let's go ahead and look at the higher time frame on the daily here. Look at all of these prints here. This is the last week. And so look at all these prints: 240K, 300K, 240K, all in here. So we've been having this nice uptrend, and clearly there's lots of prints before. We've been calling that out, but we have this consolidation, and then we're breaking above with more prints. You can see that here yesterday. This gapped up. I got a nice note from one of my traders. They made a killing on this. So I really—that's really nice to hear. Um, that they're doing well. And so here, look at this. Yesterday, 1.7 million, pretty much at the top here. And then today we're up. So they're just adding to their position, it looks like. Look at, look at that. So we're going to be bullish above— map this out on both sides so that there's no bias at all. We're not just looking at this as a prediction we're going to the moon, because that invalidates any retracement. And so we're going to be bullish above $337. 350 with a target of 340, 345, 350, 355.91 is R3. So we've got the 4 and the 8 exponential moving average running together. If that's the case, then no reason to get out of the trade, right? So this is— this will get us 20 points, which is the ATR up to the R3. So we would expect a bounce, pull back here, and then wait a little bit. If it comes up and tests it again with increasing volume, then you can get back in and it continues to go up to $394. I only mapped it out for the $20 ATR on this one. We're going to be bearish below $328.50. Let's get down below this range target, $325, $320. $317.04 is this R2. It's also where the post-market pretty much ended. Then we've got $312.17 down here. I've got my 50 simple moving average here. That's, that's support here as well. That's the low The the recent low, 310, 305, 303, 92 is back to R1 on that. Okay, let's go ahead and look at Broadcom AVGO. Okay, so AVGO similar sort of thing. We've got massive prints here. This is the last week you can see here. Look at these 1.7 million shares. This is about 900. Million dollars right here. $439 a share times 1.7 million, we've got a $1.2 here. And so this is an excellent swing trade setup. Look at this one. This is when I teach in my webinars, and I've got one coming up tomorrow as well. Increasing volume, no wick on top, closing above prints, right? And then just continues. Opens, tests the print, moves up, opens. This one's a little bit, uh, possible retracement here with these new prints, but it ends to. This one looks like they're continuing to push the price up, so we'll see. So we— if we break below those, we can retrace to the print here, and then we can continue on. So let's go ahead and map this out as well. We're going to be bullish above $500.50. We've got a double pivot and cam sitting right here. See, this is, this is a double top area, and currently this is a supply zone. So let's break above this $500.50, make sure we're above here and that this area here is support. $502.50, $505, $510, $512.50, $515, $517. And this one here, I'm doing the $2.50 increments. The ATR in this one is $18.38, so you can, you can have larger moves on the impulse because it does, it does move a little bit more. But mind your dollar, quarter, $2.50 levels, things like that, and take some profit along the way. We're going to be bearish below $495. Let's get below here. Target 492.50, 491.67 is a cam down here. 490.11, 487.50, 486.62, 484.94 is a cam all the way down here. 483.25 and 482.24 is a 358K print. So we can potentially come back to this print. We do have these support areas here. That's a 50 simple moving average. This is my 200 200 exponential and 200 simple moving average here right at these prints, which is the 358 and the 1.2 million sitting in here. So if we do have a retracement, there's the possibility of coming back to test the print there. All right, there you have it. Those are your 2 trade setups. So also sign up for our weekly Dark Pool Report, mobiticktrading.com/weekly-report, where we do swing trades. We have 13 stocks by IWM, and the QQQs are always included in that. We have a market overview And we also have a scorecard to see how we're doing. This is week 10, I think, coming up, and it's been really phenomenal. So yeah, sign up for that. This is— these videos are all intraday trading, and so I have a newsletter for swing trading as well. Okay, happy trading everyone. We will see you tomorrow with all new trade setups. Take care. MobyTick has partnered with TrendSpider to bring real-time institutional trades to your charts. Click the link in the description below for more details.
