Dave Barnhart analyzes premarket volume and trade setups for ETHU, a 2x Ethereum ETF, and PLTR. He suggests ETHU entry around $10.50-$11 with targets for PLTR at $75-$77.50, noting support levels near $65-$60 based on moving average crossovers and price action.
Chapters
Good morning. It's 5:45 AM on Wednesday, December 4th. So let's look at some pre-market volume. We've got some big ones so far. There's 10 over $400,000 this morning. This one struck me as interesting here, ETHU, which is a 2x Ether ETF. Today's volume, $1.1 million. The previous day's was $20 million. There's a lot of volume that's come in yesterday, and the average volume is $6 million. So Well, this has really picked up some steam. It's up $0.66 on a $10 stock. Let's have a quick look at the chart. And here we can see some trades that have been coming in previously. Looks like there was buying at $7.47. We came up, there were more prints, pulled it down. We have a consolidation of prints here, 243,000, 300,000. We've pushed up, and with the 4 and the 8 exponential moving average crossover, this is a strong uptrend momentum. And we have increasing volume here. And so pre-market, this one looks like it can run. We're already at $10.48, so maybe we'll look at getting in around the $10.50, $11 range for a swing trade. This one seems like it's picking up and continuing to run. The other one that we're interested in here is PLTR. This one already has 422,000 today. Previous days was 100 million, and the average 90-day volume is 62 million. So this one's already up 95 cents. On a $71 stock. So if we click on PLTR, let's see where the big trades are. And so yesterday we've got a 900,000 at 70.22. We'll add that to the chart just by clicking on this here. And here's another one. We— 4 has crossed the 8 on the moving average. So this is a stronger uptrend momentum. We're riding this 8 exponential moving average, the blue line. And so yesterday Was a big push up. We're moving higher today. So right now, if we're at $71.90, we would be bullish maybe $72, $72.50, and then we can look at $75, $77.50, something like that for a trade. And then we'd be bearish below this 8 exponential moving average. So probably bullish below $67, and we might be able to, be able to trace down back to support here around $65 or down to $60. All right, those are 2 great pre-market trades for you. Don't forget to like and subscribe. We're doing this daily throughout the week. Happy trading.
