Dave Barnhart breaks down two pre-market trades on QUBT and RGTI using technical analysis. He maps out daily and 5-minute chart setups with moving averages, Camarilla pivots, and specific price targets for both long and short scenarios. The Federal Funds rate announcement at 2 PM could move both stocks.
Chapters
Good morning, traders. It's Wednesday, March 19th at 5:38 AM. Some economic news at 2 PM: the federal funds target rate. Let's see if the rates go up, they go down, they stay the same. Either way, what happens, we'll be ready for the trade. Let's look at our stocks for today. We have QUBT and we have RGTI. I think both of those are in the AI server sort of Sector. So here's QUBT on the daily, and so we've had increasing volume here. We've pulled back to the four EMA yesterday and made a higher high. And then so here it looks like we're we're sitting at the previous day's close potentially moving up. So so that's good on the longer side, probably up to about oh fifty I would think if we were going in it for. For a while, and then if we break below, uh, down here, then there's a shorting opportunity. I guess that's the overall larger picture. Now let's look at the 5-minute and see what we're looking at. Okay, so we are bullish above 901. We got to get above this. This will be a new high from the pre-market side, and this is also a Camarilla. So 901 $9.19, so we get about 18 cents to our first target. This is a lower-priced stock, it has an 88-cent ATR, so we'll take that pocket there. $9.40, $9.54, $9.76, you see what we're doing here with the pivots. And if we get above $9.76, then we've got a really nice trade up to $10.44. So our levels are $9.87, $10, $10.44. Then I've mapped out $10.60, $10.80, And 11. And we've got 11.07, which is a teeny above the, um, above the dollar level, and that is an R5. Okay, on the downside though, we're bearish below 8.25, so we have to get down here, get below this mess here, and then our target's 8.07, 8, 7.80, 7.60. And then we've got an S1 and a Camarilla support here at 7.50. So we will definitely be taking some profit there, and that's our last target there, $7.50 with our 88-cent ATR. Next up, RGTI, Rigidity Computing. So this one looks pretty decent as well. This one has a little bit of waning volume. We're hanging on to this moving average here at the moment, uh, but we've pulled back to the 4 EMA. And we're popping up again. So really on the longer term we have to close above this range probably around $11.50. We'd actually have to, um, to close above there to continue long. If you're in it already, great. And then we would have to get below this level here probably the $9 level in order to go short minding the moving averages there. Let's look at the smaller time frame. So what we have here is we're bullish above $11. So this is a great setup here because we've got This here, we don't want to tackle this last 8th, most expensive 8 in the world according to Jesse Livermore. So R1 here, $10.99. So we'll be bullish above $11, target $11.20, $11.40, $11.59, $11.73. So these are just the, uh, the pockets here, $12, $12.50, and $13.01. So once we get above here, if things are strong, you know, the 4 and the 8 are running together, then we've got a great trade up to 13. That's a $2— that's really giving us just over $2. The ATR here is $1.26, which is— that's great for these sorts of stocks because they're cheap and they can move. So you get your timing right, you can make some really good money. We're bearish below 10:36. I was looking at the other ones, so 10:36, we've got a break below here. And that's, um, that's 3/8. Target 1020, 1014, 1003. Down here, 991, 971, 960, and 917. All the way down here to an S2. That eats up our $1.26 there for the ATR. All right. The ATR. All right, so everybody like and subscribe, leave some comments in the comment section below, let me know how you're doing with your trading, and we will see you after lunch for our follow-up video. Happy—
