Dave Barnhart breaks down two trade setups for DRAM: bullish if it holds above $72.50 with targets to $80, bearish if it breaks below $70.75 toward $59.08. He cites institutional volume prints and moving average levels to frame the technical setup.
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Moving on to DRAM. So this is a memory ETF, and this has had lots of volume. Let's see, largest print here was 4.5 million, June 24th, $67.46. We're at $72.32. So here, June 1st, we had some prints, pulled back, and then we got these big prints down here. And then look what actually happened. We tested it, tested it, inverted hammer. There's a test bar there, then moving up with increasing volume, and then Moved up more prints, back to test the prints. You can see, always call this out so that you can see how the institutions are positioning here. The pull it back to add more, pull it back, and then looks like we're moving up from the four and the eight exponential moving average on the daily chart. So let's see if we can get up here to seventy-seven, eighty, and higher. Otherwise, if we break below, then we have some trades on the downside. So let's go ahead and have a look. We're going to be bullish above seventy-two fifty. We want this cam here to be support. We're trying to we're trying to break through. We're getting close. Target seventy. $72.95, $73.46 is a CAM, $73.80, $74.98 is a CAM, and we've got $75.67, $76.50, $77.23 is this 1.1 million up here, and then $77.93 is a CAM, and then I just put $80. This one has an ATR of about $6.23, so that's what we would expect to get out of this one. Bearish below $70.75. Now this is way down here below this print. It's difficult here because of 200 exponential, 50 simple, and we've got this cam here. And then if we come down here, we've got the 200 simple in a print. So 70.75, we want to be below this target. 70.42, 70.14 is the pivot. Breaking below that, 68.90, 68.27 is S1. 68 is $1 million. 67.50 is $399K. And 4 cents from that is this $4.5 million. This largest trade that I pointed out. So this is like 4.8 million here, and notice the date, June 24th, June 29th. So 5 days later we got another print on the pretty much at the same level. And then below that we've got 67, 66.50, 65.95, 64.61 is S2. And then if we lose S2, for example, then we can go to 62.50, 60, 59.08 on that on the downside. Okay, there you have it. Those are your 2 trade setups for today. So please like, share, share, subscribe, do all of that great stuff, and we'll see you tomorrow with all new trade setups. Happy trading!
