Dave Barnhart analyzes Intel and USO in premarket trading. For USO, he targets $147.20 entry with $152.50 to $156.06 upside, using a $3.74 ATR to frame risk. Intel shows bullish setup above $99 with resistance at $104 to $106.
Chapters
Good morning, traders. It's Tuesday, September 8th at 4:29 AM. Hopefully everybody had a great long weekend, and Monday the market was closed. So I've got 2 stocks for you today. We've got Intel and we have USO. Both are on the move up. So let's go ahead and have a look. Intel, largest prints in the last month. Let's go back here. This is around August 13th. So we've got 2 million here, and look at this, 103, 9.9 million. This is kind of the line in the sand. It's the biggest one. So what's happened is We've come back and it looked like they were selling off, right? There's just more prints here. We consolidated here at the bottom, and this is a nice one because it's got this rounded bottom. Looks like there's lots of prints. Look, 2 million, 1, 2, 2, 1.8, 4, and 5. So we're breaking above these now, so we'll have to see what's going on with Intel. And this is a really good swing opportunity, especially back here. So if you're looking for these, I know the time's already passed, there is room to get in. But look at this increasing volume Little to no wick on top, and we're break. We're testing the four and the eight there, but this one tested a print, moved up, tested a print, moved up, and then Friday increasing volume. This is a really good swing day as well. This meets all the criteria for that. So anyway, if we get above what close above 106, look out to the upside, and if we close above 87, let's look out to the downside, maybe back here to 79. So let's map this out. On the intraday, we're going to be bullish above 99. So I got my pivots and cams here. I use these. So 99, so we want this R2 to be support. Target 104 is also a cam. 195 is 3.9 million. 102.68, 103 is the 9.9 million that we pointed out. 104.25, 105.57 is 2 million. 106.75 is R4. This one has an ATR of about $4. 40 cents, which is the 14-day historical high and low range. Let's go ahead and look on the downside. We're going to be bears below at 95.75. We've got to get— look at all of this mess in here. Like, so we're stuck. All of this is support. Got these moving averages, we've got CAMs, there's a 5 million print and a 4 million print here. We've got a little bit of a gap. This is really tight. So let's get below this print, 95.75, 95.43, 95. 905, 94, 68, and 54. This is really tight here. 200 simple, 200 exponential, the pivot, and a cam. If that doesn't hold, then we've got, uh, 94, 93, 56, 93, 13 is S1, and then 92, 13 is a 1.8 million, 91, 56, and I mapped it out to this 90, 74. is 2 million right here. This is my concern because it's really, really strong here around this 94.50 level. So be careful with that. All right, let's, let's move on to USO. Okay, so USO, uh, largest prints. You see this consolidation here around August 11th, and they moved the price— the price moved up. We got this 250K right back into the prints, and then really low volume. Moving up here, and then now we're breaking out. So all of this is support. It looks like the accumulation sort of pattern on the fourth. So Friday, 120K sitting there, and then so now we're we're off to the races with that. So let's map this out on the intraday for a trade setup. We're going to be bullish above 147.20. We've got this cam right here, so we'll do a fifth of a dollar. We're kind of sandwiched in between these pivots and cams. Target 148. $149, $150, $151.04 is R3. $152.50, $155, $156.06 is R4 up here. The ATR in this one's about $4, $3.74. It's up over that right now, so just be careful. It's not— it doesn't normally move a lot in a given day, so just be wary of that. $146 on the downside. This R2, we need to break below that target. 145, 144.72, 143.99, 143.34. You can see 142.88, 142.44, and 142. This is that new print from Friday, and so I stopped here. The other thing too is this is getting tighter here for the profit taking, more chance of a bounce to the upside. That's the post-market right here, the new print. 200 exponential, 200 simple, and oh, and just below here, 141. Here we've got the pivot cam. This is all really, you know, you want a pillow-top mattress, right? That's kind of what's happening here, I would think. So that's where we've mapped it out. All right, happy trading everyone. Please leave some comments in the comments section below. Let us know how you're doing. We'll see you tomorrow with all new trade setups. Happy trading. Mobitick has partnered with TrendSpider to bring real-time institutional trades to your charts. Click the link in the description below for more details.
