Dave Barnhart breaks down intraday trades for Marvell (MRVL) and USO oil, with technical levels and volume analysis. MRVL shows institutional buying ahead of news, while USO sets up for an oil trade today.
Chapters
Good morning, traders! It's Monday, April 20th at 4:20 AM. All right, 2 stocks for you today. We've got Marvell and we've got USO. So oil seems to be creeping up a little bit and Marvell shooting up. This is fantastic. Let's go ahead and get started here. So largest trades in the last 30 days, we can see here, uh, back here March 24th, we had a large print Splashed up, back down, new print. And then the next day opened, tested the print pretty much, and closed higher with increasing volume. That's a great swing day with this volume. Looks like they added to their position. You can see that here. Pulled back to the 4, tested, open, tested, open, tested, riding the 4 exponential moving average up. And then we've got— look at this— 1.3 million, 500K, 400K, all of that in here. We consolidated for 1, 2, 3, 4 4 days. This one on Friday opened, tested the print, moved up, increasing volume. So that's another great swing day as well. And then now this one's moving up. We're up $8 already today. So let's map this out intraday. We are going to be bullish above $148. We're getting close to that right now. This was down here when I mapped it out. But anyway, $149, $150, $151.09 is R3, which is usually overbought. Then we've got 151.09, mentioned that, uh, 152.50, and then 155, and then 157.84 is our 4. Okay, on the downside, we're going to be bearish below 146. Let's get below here. So 146, target 145, 144.34, 1 $143.40. You can see these being support here. This one winds up to be the 15 exponential moving average as well. $142.01, $140.155, then $140.93, $140.31. I marked this down to $139.07, which is the post-market here. There's an $835K print here pretty much at the dollar level. That's my 50 simple moving average. If we dip below that, my 200 exponential, 200 simple in the pivot. So this $139 level is pretty important there, and with the ATR of about $6.35, that seems to be fair for the mapping out. All right, let's go ahead and look at USO. Okay, so we've called out USO several times, and let's look at this. This is going back the month, and so we can see here it's gone sideways for a bit, but we gapped up We had this, we had a print here, and then we had this pullback to the 8, and then it just shot right up. And then we had some prints here at the top and pulled back, and we consolidated for a bit, pulled back down, but then we got a $200K print on the 17th. And then now we're trying to push up, like, so you see that volume right here? Now we're trying to push up there. So let's look at this on the week. Right here, you can see that that's what I'm talking about. Here we had this print at the very pretty much at the bottom of this candle, and then now we're breaking up through those moving averages. I'll switch back to the month so we can map this out properly. We're going to be bullish above 123.50. Oh, we're just getting there. I was mapping it out on this red one. Anyway, 123.50 target, 124.11, 125. 126.74 is this 100K print up here, 127.47, and then 130. So we've got these prints overhead. Now if this is strong, you should be able to— these should become support relatively quickly up to that R3 if that happens. But just be careful here that these can be resistance. On the downside, bearish below 122.37, that's the— this low here on this Target 120.94 is our 2, 119.63, 118.49, 117.83, 117.24. You see this here, and then 116.64 is this post-market, also a 200K print. And this is my 200 simple, 200 exponential right here about the 118 level. Just be careful of that. And this is the 50 simple around 117.25. So this can be support here if oil continues to be strong. All right, there you have it. Those are your two 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 tomorrow with all new trade setups. Happy trading, everyone. MobyTick has partnered with TrendSpider to bring real-time institutional trades to your charts. Click the link in the description below for more details.
