TSEM cleared $200M in dark pool prints with an ATR of $21. Bullish above $277 targets $301.64; bearish below $256.50 targets $233.90. The 4 and 8-period EMAs staying together keeps the trade alive.
Chapters
There is institutional activity, but this one seems to be a little bit slower to move. The ATR on this is about $21. So let's go ahead and have a look. We can see this consolidation of prints here all the way back from May. And so we upthrusted, we pulled back, and then we get this consolidation down near my 100 moving average. But recently, July 2nd, you can see prints here holding the moving average, testing the prints, backtesting another print here, and now we're off to the races. And so we're already up $42 for today. They're already double the ATR. So let's go ahead and map this out on the right-hand side. We're going to be bullish above $277. Let's get above this R3, $278.99. Then we've got $285, $290, $301.64 is R4. And if this continues, if you see the 4 and the 8 exponential moving average— this is the 4, is the red one, the blue one is the 8— if it's running strong together, then there's no reason to get out of the trade. All right, we're going to be bearish below $256.50. Let's get below here, target $251.70, $240. 243.41 is a CAM, 240.69 is R1, and we've got 236.55, 234.26, 233.90. We stopped down here. Now this is the post-market. We've got a print— this is really tight in here. Then we've got the pivot, my 200 simple, 200 exponential. Look at this wall of stuff that's right here. So I stopped here even though the ATR is higher. This to me is massive support.
