Trader Dave Barnhart analyzes SMCI and KWEB on February 6, 2025, using pivot points and the 4- and 8-EMA framework. For SMCI, he targets $33-$33.15 above $32.50 or $30 below $32. KWEB could hit $33-$34 above $32.12 or drop to $31 below $31.80.
Chapters
Good morning, traders. It is Thursday, February sixth at five twenty-seven a.m. So we've got two stocks to look at today. We've got SMCI and we've got KWEB. So let's have a look. SMCI seems like it's moving up. We had some big volume yesterday on a doji, but we've got got some prints here. Thirty-two ten is four hundred and fifty thousand. We're at thirty-two forty-four. So let's go ahead and have a look on the upside. If we get above here, then we do have some room, and on a longer-term swing, there's this big gap up here to 40 that we could probably get to. And then longer-term on the downside, if we close below this 8 EMA, we can have a retracement down here and then back down to the bottom here to about 25.50. So let's have a look at the 5-minute chart for our intraday setup. So here we are bullish above $32.50. We have to get above here. So we can see this— there was the high back here, and then so we've got to break above and get some increasing volume. We'll get above $32.50 with a target of $33, $33.15. So we can see that these pivots and CAMs— $33.50, $34, $34.50. Then we've got $34.83 and $35 right here. This is an R2. This would be some resistance here. And so our ATR right now is $2.36, which is the average over the last 14 days. So this could be the extent here of the move today based on historical. But if we— if it continues and we might pull back, and if we get increasing volume breaking above $35.06 again, Then we've got this big pocket all the way up to 38. Not sure if that'll happen, but anyway, just remember, if we're following the 4 and the 8 like this, we're going to stay in the trade. Now the downside is a little bit tougher, but we have to map out a retracement. We're bearish below 32 with a target of 31.80. So we've got this 450,000 print at 32.10, and then so if we break below 32, then we've got this CAM at 31.80 and then a pivot at 31.45. So bearish below 32, To 31.80, 31.50, 31.28, 31.18, 31, 30.87. So you see that what we're doing, we're just going level to level here. We'll have little bounces, but if we get below this 30.56, then here's our pocket here on the downside, all the way down to 30. Okay. Next up is KWEB. So KWEB had a 2.1 million share trade at $31.38. We're at $31.90. We're up 64 cents on the day already. And so we've had this impulse move, pullback. It's gone a little bit sideways. So let's see if we close strong, then there's a great trade opportunity, probably up to $34. And then if we close below this, then we can retrace down here to $30.50, and then back to these prints. But look at all of these prints here. You can see how far back they go. There's, uh, June, September, May, July, all of these massive 1.9, 1.1, 1.6. And if we scroll back, you can see that this has been support for a very long time. We came back, tested some prints from July, and then we broke back above. So let's see what happens here. Looking at the 5-minute here, there's, there's some space here on both sides that we can run with. So we're bullish above 3212 because we have this CAM at 3211, so that's 1/8. We got to give it that extra 1/8 to get above here because otherwise we'll just bump our heads on that. So we're bullish above 3212 to 3242, so that's, that's a nice pocket. 3250. $32.75, $33, and then up here, $33.16, $33.35. That's a nice pocket all the way up here. So that's, uh, the ATR here is about 84 cents. So $33 might be the extent of that run. And then on the downside, we're bearish below $31.80. So this cam— so we've come up. So if we start moving down here and break below $31.80, Then we have a retracement here to 31.50, 31.38. So I got the 50-cent level. That's the major level. We have a pivot here at 31.45. We could come down, test this 2.1 million print from the 5th at 31.38, and if we don't hold that, then we'll go to 31.18, and 31 would be our target. So we would do same thing. We would write it down, bounce. Come down a little bit, bounce, bounce, you know, profit taking at these levels. And there you have it. Okay, so please like and subscribe, leave some comments in the comment section below, and we will see you after lunch for our results. Happy trading, everyone.
