Dave Barnhart breaks down $807M in dark pool prints for ServiceNow (NOW) and Micron (MU). NOW shows a bullish zone above $100 with targets to $105, while MU is accumulating with a breakout above $743.50 targeting $792.26. Both setups use CAM levels and ATR for trade management.
Chapters
Good morning, traders. Welcome to Monday, May 18th at 4:23 AM. All right, I've got 2 stocks for you today. One is NOW, ServiceNow, and the other one is Micron, MU. So both are moving up a little bit. Let's see what's going on here. Um, here's NOW on the right-hand side. We'll look at the largest trades in the last month. We can see we're breaking out of some sort of consolidation here. 2 million 2 million shares, $87.50, you see that, $750K, you see all of these prints here going back April 23rd. We've got this bottoming print, consolidation, pulled back, breaking through prints, increasing volume here, and then Friday, May 15th, increasing volume as well. Then that's, that's pretty decent because this is a swing entry. I took this swing Here, and then so actually I'm in this trade, and then we're moving up a little bit. This is the classic long that I'm looking for: increase increasing volume, breaking above prints after a consolidation. I call this out all the time. So if you watched any of my webinars or videos, I keep talking about this. So anyway, I took this trade on Friday as well. So I'm looking for a target maybe up here to about 110. And anyway, there you have it there. On the left-hand side, we're going to be bullish above 100. So we're coming up on this R2. So let's get above this and 99.93 right here. So there's a little pocket here, but then breaking above 100 would be great. Target 101, 102, 103.97 is R3, and then I put 105. The ATR on this is $5.17. We're already up $3.76. So we can see we're holding in between here, the 4 and the 8. Exponential moving average here. We're running like this. If this continues and it's strong, no reason to get out of the trade. We're going to be bearish below 97. Let's get below. This was the 4 a.m. candle. Then target 96.36 is a cam. 95.93 is a cam. 95.50 also is a cam. 95.07 is a 2.3 million share trade. And look at this. The post-market, we just hung along this print and this 94.51 through through the post-market, so that there's a target there. Then we've got 94.67 as a as a cam, and then 94.57 as a retracement to the pivot. So that gets us right back in here, and then to the print. There's my 200 exponential, 200 simple. So this is nice sandwich of support in this area on that. Okay, let's go ahead and look at MU. So we all know how volatile MU is. It's got an ATR of about $45. It's actually calmed down a little bit because it was in the $60s before. So we're stuck here in between the 4 and the 8 exponential moving average. But going back a month, we see all of this accumulation here. This is just like I explained on ServiceNow where I'm in that trade. This is an excellent trade setup right here. Right? We've got this consolidation of prints, increasing volume, moving higher with no wick on top, little to no wick. This was a great entry. And then we had more prints, and it looks like in the week— look at this, this is 2.4 million sitting right here. So we had this— looks like potentially some profit taking, or they're pulling it back to accumulate some more. There's 1.8 million up here, and then another 600K And then we're sitting here at about 742. So let's see if we can get up here to the 798 level. So we're going to be bullish above 743.50. This is pushing up here. This is quite strong. We have this candle right at the open. There's my 200 simple, 200 exponential. We're fighting with these 2 cams— well, this pivot and the cam here. So we need to break above 743.50. It's close because of the timing of this. I was looking at it right about here. But anyway, Anyway, if you miss this one, it's— you'd look, just go for the next entry point, which would be 750, 755.49, 761.67 is R2, 770, 780, 788.42 and 43. This is the 1.2 million up here. And then 792.26 is R3. So we've got some nice pockets here. To trade there, there, and then a larger pocket up here if it goes to run. We're going to be bearish below 727. We're gonna yeah, we're gonna be bearish below 727 down here. Target 721.86, 719.05 is a cam, 716.25 also is a cam. That's pretty much where the post market ended. Then 712.58, 707.84. Down here is a cam. Then we've got 749 as S2. Then we've got 693, 683, 690, 680, 669, 690. So there are some pockets on the downside that get— that expand if we break below. All right, there you have it. Those are your 2 trade setups for today. So please like, share, subscribe, all of that great stuff, and sign up for our weekly Dark pool report. That one actually came out yesterday, so even if you sign up for it, you'll get this week's for the trade setups, swing trades. We learn about the dark pools, and you get my bullish above, bearish below, all the charts with those levels on it, and a full market overview. All right, happy trading everyone! Oh, and that's at mobiticktrading.com/weekly-report. First name, email address, and you'll get the latest. Newsletter. Happy trading everyone, we'll see you tomorrow with all new trade setups. Take care. Mobitick has partnered with TrendSpider to bring real-time institutional trades to your charts. Click the link in the description below for more details.
