Dave Barnhart analyzes GitLab dark pool trades and sets up bullish and bearish scenarios. Bullish above $56 targets $60; bearish below $52.50 targets $47.24. A $580K trade at $41.50 and month-long consolidation preceded the recent move.
Chapters
So GitLab largest trades in the last couple months. You can see here the biggest one is $580,000 here at $41.50. And if we zoom in here going back to July, you see this massive green candle here. Well, big candle, massive volume. This was $200K, and you can tell that there's not a lot of institutional, um, prints on this share size comparatively, but each stock behaves differently. But we consolidated here from July 9th All the way through till August 4th. So it was almost a month here before it actually kicked off. Once it kicked off, we went through another range of getting all of these prints in coming up here from August 10th to August 27th. So you can see the pattern here that they they get in, it goes sideways for a bit, and then it's breaking out. So this broke out into earnings. We're already up. Oh, and it's continuing to move. It's already above my bullish above entry. So let's map this out live here. Because I've been talking. Okay, so let's on the left-hand side, we're gonna have to be bullish above 56 now. Originally it was 54, then I moved it to 55. Now we're at 56, so bullish above 56, then target 57, 57.50, 58.25, and 60. I've mapped it out to 60. Sorry, ATR is $2.06, and so getting up to 60, you can continue to go. Like, look at this 4 and this 8. Moving average, they're running together. So if that's actually happening, you can you can get in. So on the downside, we're going to be bearish below 52.50. You want this 53 level to be resistant. Target 52, 51.09. Then we got 49.16 is R3, and then 47.24, which is right about down here. That's a 200 exponential, 200 simple moving average, and we've got this these pivots here. So I call that the peanut butter and jelly. Stole that from Stephanie Cameron.
