AMD has bullish targets at $115 with support at $100, while Snap shows potential up to $1360 with resistance below $1097. Both trades are mapped using pivot points, volume patterns, and Elliott Wave analysis ahead of Friday's non-farm payroll data.
Chapters
Good morning, traders. It's Wednesday, February fifth at five forty four a.m. So let's go ahead and look at what we've got for today. It's a big week for news though. So today at eight fifteen, we've got ADP national employment. Nine forty five is final PMIs. Ten o'clock is manufacturing. And then tomorrow there's jobless claims. And then Friday is a big one: nonfarm payroll. So you got to be careful of that. So the two stocks that we have. Today are AMD and Snap. Both had earnings, so let's go ahead and look at AMD. AMD's down about $10 already. It's down $9.88. We're below all of these prints. Look at this, millions, millions of trades here, so they've been selling this for a while, it looks like, and then we've moved down quite heavily today. Let's look at the 5-minute on that for our day trade entry. So this one here, we're going to be bullish above $110, so we have to get back up above here. So we've got this trade up to about $113. So we're going to be bullish above $110 with a target of $111, $112. $112.99 is this PS2, so it's a person's pivot S2, but that's now resistance. $113.50, $114, $114.23, up to $115. So we're gonna, we're gonna do about that, and then our ATR is about $5 here. We've already moved 10 below. Now we're bearish below 107. We've got this at 107.93. We'd like to get down, uh, below that. So we're going to be bearish below 107 to 106.25, 105, 103.25, 102.87, which is an S4. And so this is, um, heavy, heavy support that's there. And then we've got a trade down to 102, 101, and then down to 100. That's a major, major level, the $100 level. So there's your trade setup for that one. Next up we have Snap. So Snap had earnings as well, and it looked to be relatively good. This looks like that'd be a good swing even here, uh, even with those earnings, right? So anyway, this was a This was a great swing setup. We have increasing volume. We had this— any Elliott Wave people, you have that impulse 1, pullback, increasing volume on support sitting on these prints, right? 8 million, 5 million, something like that. And that looks like it's a good swing. We could probably in the longer term get up to the $11.54, up to $12, up to $13 here if this continues. And then on the downside, we've got a lot of support here on the downside. It looks like it'll be a little bit better the bullish side. So let's go ahead and look at our 5-minute. Now this clearly— look at this disaster that's here. All of this is support, so we have a better trade on the upside. So we'll see. So we're going to be bullish above 1220. I'm going to get up here, and then we'll, we'll have a target up to 1255, 1260. So if we, if we look up here, there's a 4.6 million print and an R3, which is pretty extended there. And if we get above that, then we're up to 1280, 13, 1320, 1360. Now this R4, that's a teeny 1307, 1306 is a, is a teeny 1/16th, and it's also a dollar level and an R4. So if we look left, this is massive support as well. So there'd be definitely profit taking there. And then if we break above that, then we can trade it up to this 1360 area there. Now on the downside, we've got to be bearish below 1097 all the way through this mess, and then we've got a trade down to 1080 and 1060. So there's not really a massive trade here, but there's a nice pocket in here down to these 12 million imprints at 1057 and 1059 back from Back from September. So there you have it. There are your trade setups for today. Please like and subscribe. Leave some comments in the section below, and we'll see you after lunch to see how we did with our trades. Happy trading, every—
