Dave Barnhart analyzes Zoom's post-earnings drop and gold's range. Zoom has bullish support at $96.50 and bearish targets down to $91.68. Smart money placed massive gold prints around $429 before the move, with institutional positions up to 4 million contracts.
Chapters
Good morning, traders. It's Wednesday, August 26th at 4:59 AM. All right, 2 stocks for you today. We've got Zoom and we've got gold. So Zoom had earnings and we're down a little bit. We can see here largest prints in the last 30 days. We had this, uh, consolidation here of prints. There's smaller sizes here at the bottom, so 160K, 97K, 75K. We did a nice upthrust and then starting on August 13th We had a print here, went sideways, and then it looks like they were selling, breaking below, selling. So they know what's happening with the, uh, with the pre-news, I guess. And so we can move down, potentially test this 250 simple moving average of 100, something like that on the longer term. Otherwise, we'd have to get above this 8 exponential moving average, break through some prints, and if we can get above there, then You're above smart money and then moving on to the upside. Okay, let's map this out on the intraday with my pivots and cams. We're going to be bullish above 96.50. Let's have this here as support. So 96.50 target, 97, 97.38, then 98.36, 99.15 is S1. I stopped there. The ATR in this one's $3.72. We're down $5.50 almost at the moment. But anyway, on the downside, we're going to to be bearish below 95. Let's get below this low target. 94, 93, 92. 73 is S3. Then we've got 91.68 and 91. So there's this, um, $100K print pretty much here, and then the dollar levels. So we'll see if this actually holds. If you have the 4 and the 8 exponential moving average running together, there's no reason to get out. All right, moving on to gold. Okay, so GLD, everybody knows that gold has been on fire. Now, these are the largest prints in the last month, and you can just see that they've been adding to their position. I've called this out all— well, I guess I can't remember if it was this week or last week, but anyway, you can see these monstrous prints: 800K, 700K, 700K, and then right here at the top we've got 4 million. On the 24th, so two days ago at 429. So this is a line in the sand. It's the largest print in the last well on the chart. So we want to close above 429 to go long, and then we'll see if we're going to range in between here and the eight exponential moving average. So just watch gold to see if we hold 415, and if we close above 430. Then that's great. If we lose 415, then we can come probably down back closer to 400. All right, let's map this out on the intraday. So on the intraday, we're already sandwiched between 1.5 million in prints and 2 pivots and moving averages. So we're going to be bullish above 425. Let's get above this. We want this to be 425 to be support, then target 426. 426.18 is the pivot. 426.47, 427, 427.54, 428, and then up to the print at 429 right there. Okay, so just mind this level around the pivot, 426.18. There's my 200 simple, 200 exponential, uh, 2 pivots, and, uh, 50 simple moving average. And then there's the post-market before the, the move down. So maybe that gap will fill. On the downside, we're going to be bearish below 424. Target 423, 422.18, 421.70 is 800K. 420.37 is S2. Then we've got 419, 418, and potentially 415.84 on that. On the downside, 630K print. All right, there you have it. Those are your 2 trade setups for today. So please like, share, subscribe, do all of that great stuff. Leave some comments in the comment section below. And we'll see you tomorrow with all new trade setups. Happy trading. MobyTick has partnered with TrendSpider to bring real-time institutional trades to your charts. Click the link in the description below for more details.
