Dave Barnhart breaks down two intraday trades for September 2, 2026. Credo Technology (CRDO) trades near its 200-day moving average at $188 with bullish targets at $192.50 and $201.25 if it holds above $191. GitLab (GTLB) broke out from a month-long consolidation and sits at $56 with targets at $57.50 and $60.
Chapters
Good morning, traders. It's Wednesday, September 2nd at 4:24 AM. All right, 2 stocks for you today. We've got Credo Technology and we've got GitLab. So Credo down on earnings, GitLab, uh, is a rocket to the moon. So anyway, let's go ahead and have a look. These are the largest trades in the last 60 days. So Credo, I did this— if we look at the week, for example, You can see there's one 130K 2 days before earnings and it tanked there. If we do the month, you can see there's a couple here. So we had, we had come up and when we tested this 50 simple, the 100K print came back down to this, uh, about 210K print. Then we had another one before earnings and it moved down. So I wound up doing 60 days so we could see where the rest of the institutions are. And you can see these bands of prints here. So this entire range, the, the meat of this trade here is divided into 3 sections, maybe 4 here. And so when we upthrust and we hold these prints, it's like they're just letting it down and they're selling into this. This is a, uh, 200 simple moving average or 200 exponential moving average sitting right here around 188. So let's go ahead and map this out intraday. We are going to be bullish above 191. Let's get above this Cam here, target 192.50, 195, 195.87. Then we've got 197.72 is a 200K print, 198.04 is a cam, 199.92 is 124K, and then 201.25 is S1. That gets us pretty much up here to the top of this range. Anyway, the ATR in this is $19. We're already down $19 almost. Well, $18, uh, pre-market on the Downside, we're going to be bearish below $185. Let's, let's break below here. If you want to get in a little bit earlier, you can, probably $186 or something, or a break below. I picked $185, target $182.50. $180.25 is S3, which is usually oversold, but we'll see. Then we've got $175, $172.50. 170, 167.50, 165, 164.62 is S4. So if this rolls over, there's lots of room minding the major dollar levels on this. And then you've got a few moving averages here on the, on the daily chart. So just mind this 200 exponential here on the, on the daily for that. Okay, let's move on to GitLab. 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. And this was $200K. And you can tell that there's not a lot of institutional prints on this. I mean, 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 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 bears below 52.50. I want this 53 level to be resistant. Target 50 52, 5109. Then we got 4916 is R3, and then 4724, 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. All right, there you have it. Those are your 2 trade setups for today. So please like, share, subscribe, leave some comments in the comment section below, and we'll see you tomorrow with all new trade setups. Happy trading. MobyTick has partnered with TrendSpider to bring real-time institutional trades to your charts. Click the link in the description below for more details.
