Same pattern as Jan 2018, expecting it to hit the upper line of an expanding triangle. then it's a reversal or continuation depending on earnings.
Note: Intraday chart appears to have formed a pennant over the last 4 days so it has to pick a direction Monday/Tuesday. With the market melting up like last January, I wouldn't short this until earnings either way.
Like your chart study on SPY, NFLX, AMZN. Could you please post your thoughts and chart for NVDA< BABA, and BA.
hungry_hippo
⋅
@greenplay, NVDA has that January pump going so just look at the January chart from 2018.
BABA and BA are just too erratic to determine anything.
greenplay
⋅
@hungry_hippo, Thank you. Is not that January 2018 move is correlated with SPY move as well. This year is a bit different I guess.
hungry_hippo
⋅
@greenplay, earnings sucked this year for NVDA. When in doubt, just play with something more predictable.
Also, the rally started the week before January this time, so I don't know how much longer it will last. See my post about VIX. Keep an eye on market movement, the past week the market melted up and the crappiest of stocks rallied. That may only continue for a few more days or go on until the next rate hike. Can't predict everything.
Look for recognizable patterns, don't pick stocks just because you like the name. If you're buying long term then focus on fundamentals.
Like your chart study on SPY, NFLX, AMZN. Could you please post your thoughts and chart for NVDA< BABA, and BA.