Dave Barnhart maps trade levels for SMCI, which crashed after a co-founder was arrested in a scheme to divert Nvidia chips to China. Bullish targets reach $29.88 if it holds above $25.51; bearish support sits at $17.50. SPY faces resistance at its 200-day moving average with targets between $6.50 and $6.73.
Chapters
Good morning, traders. It's Friday, March 20th at 4:19 a.m. It's the first day of spring, so happy spring to everyone, and we're gonna spring into action with our trade setups. There's my cheesy one, got that one in there. So SMCI and SPY today. SMCI is down a ridiculous percentage, and when we look at the news, this is actually funny. SMCI co-founder engaged in backdoor scheme to divert Nvidia chips to China, US government says. So there's been arrests and there's a manhunt under the way. So whatever. Let's look in the last week here. These are the prints that are here. Hundreds of thousands of prints. I'm not sure if they knew that in advance. Whatever. They might have. But in the last 4 days, you've got over a million here. And so we're down. Look at this. We're continuing to drop. So, so let's go ahead and map this out intraday. We're going to be bullish above 2551. Let's get above this S4 target 262650. Then we've got 2724 is S3. 282897 will get us up to this S2. And then we've got 292984 and 2988. We could probably come back up here. It's gonna bottom out, so I'm not sure what's going on. Executives or whatever. We we're just we've got a bullish entry and a bearish entry. We're gonna be bearish below 24. Let's get below here. First target 2378. There might be a bounce. If you don't like that level, then go 2375 and make sure we have a break and a retest and turning over on that. And then we've got 2350, 22, 21, 20. $19, $18, $17.50. I mean, there's— it's a free fall here. You'd have to go back quite a ways to see when it was down that low. So this, this low back here in November of 2024 was about $19. All right, next up is the SPY. So the SPY, we've been in a downward trend, and we called this— these are the largest trades in the last week as well. We've been looking at the And then they've been quite heavy recently. So yesterday we pulled back and we're holding my 200 exponential, 200 simple. We've got, we've got some prints here. We've got 5.3 million at 661.62, 1.2 million at 657.77, and then 469 at 655.69. So we're, we're at 659.24. We're still below this 5.3 million. And so if we come up and tag, tag it potentially, this is 4 exponential moving average on the higher time frame. We could push up and then pull back down again. The 200 simple, 200 exponential is a really, it's a really thick zone. So if we break below this anyway, then clearly we'd be down to 650, potentially 640, something like that. So let's map this out on both sides. We're going to be bullish above $6.60. Let's get up here. $6.60 target, $6.6052, $6.6123, $6.6162 is a 5.3 million share trade. $6.6195 is a cam, and that'll be matching this high pretty much here. $6.6230 is 6.7 million, $6.6346 Is R1. Then we've got 664.10. Then we've got 665, 667.13, 667.67, and then 669, which is 2.2 million. And then within 6 cents, that's 8.3 million here, and that gets us way up there. So the ATR in this one's still about $9. We're going to be bearish below 659. We're getting close to that. The 659.08 is a cam, so we want to break, retest, increasing volume, move down potentially. This is support at the moment. You don't want to be shorting before you've held this target. 658.37, 657.77 is 1.2 million, and there's also a cam there a few pennies below, 657, 655.65. Right here is S1, 655.50, and then 653, and then 651.93, and 651.51 right here, and then 650 if that's the case. So we've got a 9-point move there on the downside, minding this 200 simple, 200 exponential over there. All right, there you have it. Those are your 2 trade setups for today. So please like, share, subscribe, sign up for our weekly Dark Pool Report at Mobitick Trading. .com/weekly-report. First name, email address, and you get our swing trade setups for the week and learn about the dark pools, and we review our callouts from the previous week as well. So there you have it. Happy trading everyone. We'll see you later this afternoon with our results video. Mobitick has partnered with TrendSpider to bring real-time institutional trades to your charts. Click the link in the description below for more details.
