Dave Barnhart analyzes MRVL and IREN using dark pool prints and institutional trades. He maps support and resistance zones with CAM levels and ATR volatility, then lays out bullish and bearish scenarios with specific price targets and stop-loss levels for each stock.
Chapters
Good morning, traders. It's Friday, August 28th at 4:37 AM. All right, 2 stocks for you today. Both had earnings. We have Marvel and we have Iron. And so both are down on earnings. I apparently Marvel had a blowout earnings and we're down. So let's go ahead and have a look, see what's happening. We've called this one out. You see this, these, um, well, hundreds of millions of dollars worth of shares. The biggest one here, 726K. Oh, then we've got 755K and So it looks like they were adding to their position. They've got this consolidation here, upthrusted, tested the print, moved higher. Day before earnings, we pulled back with increasing volume, and now we're back below this, this level. So what does that mean intraday? Let's go ahead and have a look. So on the left-hand side is my 5-minute chart with pivots and cams, and you see all of the prints are overlaid as well. We're going to be bullish above 225. Let's get above here. Uh, target 227.17 is a cam. 229.29 is 257K. 231.26, 233.63, 236.35, and 237.27 is that 755K print. I wound up stopping there. On the downside, we're going to be bearish below 220. Let's get below this level. Target 218.59. 217.04 is S3, which is usually oversold. 216, 215 right here, that's another 900,000 if you add those together. Then we've got 212.31 is a 1.5 million. Actually, I didn't see that one. That's the biggest. 211.02, 210.54 is 491K. And then if we break this level, then we've got 205, 202.82, which is S4. So the ATR in this one's about $16 there, so it can move. All right, moving on to iron. Okay, so iron, similar sort of situation. We've got lots of prints here. If we go back a month, we have this wall of prints in this, uh, big juicy green candle. We moved up into all my moving averages. Lots of prints up here on the top. There's a 2.3 million Sitting up here, and we just had these big wicks on top. We move back down into this consolidation area, and then earnings come out, and we pop. We we drop down, and we're testing these older prints from July 31st. So these are like a month old from when they got into this position. So let's see if we close below these, then maybe we can move lower to about the 29-28 level. Otherwise, if we're gonna have to move up through a lot of this institutional positioning. So let's go ahead and map this out on both sides. We're going to be. Bullish above 38. Let's get above this print, this 540K. You want this to be support. First target, 38.37, so you get, uh, 37 cents on that one. This would be, uh, S3. Then we've got 39.31 is a cam, 39.58 is S2, 39.86 is a cam, and then 40 is the support here and also half a million shares. So I'm pretty much calling it there. Look how tight that is between 40 and 41. You've just got all of this noise right here. You've got prints and about 8 or 10 cams. So we just don't want that pivots and cams together. On the downside, we're going to be bearish below 37. Let's get below this 576K print. Then you've got, uh, 25 cents to this print From July 31st at $36.75, then $35.95, $35, and then we're just going to go dollar level: $34, $33, $32, $31, and then $30, right? So this one has an ATR of about 365, so just be careful, but it has moved almost that $3 so far, uh, pre-market. There you have it. Those are your 2 trade setups for today. So please like, share, subscribe, do all of that great stuff. Leave some comments in the comment section below and we'll see you Monday with all new trade setups. Happy trading. Mobitick has partnered with TrendSpider to bring real-time institutional trades to your charts. Click the link in the description below for more details.
