Dave Barnhart breaks down intraday trading levels for ServiceNow and the USO oil ETF, tracking a $1B institutional footprint through dark pool activity, volume prints, and support/resistance zones. He maps specific price targets and stops using moving averages, pivots, and average daily range observations.
Chapters
Good morning, traders. It's Tuesday, May 19th at 4:15 AM. All right, 2 stocks for you today. We've got now ServiceNow. It's on fire. We called it out yesterday. I'm actually in that trade and it's moving up some more. And then we've got USO. Oil's on the move. So let's look at this. This is ServiceNow prints in the last month so far. We can see massive, massive shares. Look at this: 2 million here, 2.3 million, 1 million, 750k. Look at all of this. And we've been holding. This was our consolidation area, and it looks like they've been adding to their position. We had increasing volume here and the breakout. So this swing from Friday, this is where I actually got into the trade, and then we've moved up and we're continuing to move up. So what I want to do is switch this to the week, which would include yesterday, and we can see here there's another print, 58K at $100.84, and And we're already up another $3.28. So this one seems to be quite strong on the breakouts. We can day trade it, and if you're doing a long-term swing, just trade it together. You know, you can have a longer-term position and also day trade it. So we're going to be bullish above $108. Let's get above here, and then Or $107.50 depending if we can make a higher high here. If you see this, if it's pulled back and we're breaking above this high here, this cam, you can get in 50 cents early. But I put $108.81 as R2, and we've got $110.64 as a cam. Then I've got $111.25, $112.50, $115.64 is R3. This one moves about 5/68. A day on average. We're already up $3.38. With the dark pool being highly active in there, there's the potential for it to move a little bit more. We're going to be bearish below $104. Let's get below here. Look at all of this support here. Here's the post-market right here, and so let's get below this one here. These pivots and CAMs and moving averages, and that's a 50 simple right there. Just want to be safe so we don't get stopped out on a bounce. So $104, target $103.50. 103, 102.79 is a cam. 102.17, 101.98 is a retracement to the pivot. That's my 200 exponential, 200 simple, and we've got 3 pivots right here. So I'm looking at that, um, for the end of the road. It would be difficult if we do. And then we've got, we've got this 58K print from yesterday as well sitting down here. If we did come back and test these and start hammering moving up, then it'll probably go higher in that case. Okay, let's go ahead and look at USO. And USO, this one here, we'll look at the month first and then switch to the week again because there's been, there's been more. Actually, the month is a little bit better. We can see back here April 24th, we had some prints We've got some big ones here, 500K, uh, 500K here at the bottom. And so we had this, we moved up, more prints, pulled back, increasing volume, testing the print, moving up to prints, back to this 8 exponential moving average, the blue one on the daily. And now we're moving up above all of these prints here. So there was one from yesterday, 73,000 right here. This was wicking up and then we had one. So let's Let's see if this actually holds and can push higher, or if we can retrace back down here to the print. So we're going to be bullish above 152. And yeah, bullish above 152. Target 152.50, 153.93 is R1. 154.31 is a CAM. Then we've got 155, 156 and a quarter, 157.50, 158.56 is our 2. So this one moves about $6.55. So that gets us up to this 158 level on that. Okay, we're going to be bearish below 149. Let's get below here because the 149.44 right here is the pivot, but I've got 200 simple, 200 exponential here. We've got all of this post-market support, this block that's right here. So we've got to get below 149. Target 148.45 is a CAM. 147.62, 147.37 is this 500K print that we pointed out. 146.78 is a CAM. 146, 145, 144.81. Is S1. So that's about eight dollars on the downside, which is a little bit more than the ATR. But if it if it has time to move, has room to move, and it's going increasing volume and some momentum, then by all means. Okay, there you have it. Those are your two trade setups for today. And also don't forget to subscribe to our Dark Pool Weekly Report. Mobiticktrading.com forward slash weekly dash report first name email address, and we do a market overview. Every week there's 13 stocks to trade. We review the SPY, QQQ, and IWM included with that, and then there's 10 swing trades that we can— that you can take. And I think this is week 8 we've been doing it, and the results have been phenomenal. So if you subscribe, uh, through the week, you'll get the current newsletter, and then you'll be good. It comes out Sunday mornings at 7 AM Eastern. Okay, happy trading everyone, and we'll see you tomorrow with all new trade setups. Take care. MobyTick has partnered with TrendSpider to bring real-time institutional trades to your charts. Click the link in the description below for more details.
