Hello Traders, welcome to today's analysis of Nvidia.
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Explanation of my video analysis:
In 2019 Nvidia stock started creating a long term rising channel and retested the lower support trendline the last time in 2022 before we saw a massive +600% rally on this stock. Nvidia is now retesting the upper channel resistance which I mentioned in the analysis and there is a quite high chance that we will see at least a short term correction towards the downside from here.
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I will only take a trade if all the rules of my strategy are satisfied.
Let me know in the comment section below if you have any questions.
I like your chart but its on a 2 yr time frame....Can you do a shorter time frame ie: 6 months or so?
basictradingtv
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@TomDen1, Hey Tom - I only do this "shorter term" analysis in the Elite Program but not publicly - I am sorry...
elisanascar
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Even with earnings tomorrow?
bjorn2z
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@elisanascar, Not, even with, but because tomorrow is earnings. The last two earnings, NVDA fell. The run up in anticipation of earnings has already happened. After the actual news, most likely outcome is a selloff. No?