NVDA showing the makings of a Cup & Handle Breakout. It has retraced 78% from high, and has attempted to clear the 78% fib line. However, it is riding the upper band of the Bollinger, which is widening and signalling a consolidation. There is considerable resistance above which might lead to a false breakout and breakdown.
I would consider a long swing position only if it takes out its most recent high (black horizontal line) and consolidates the handle tightly.
I would consider a long swing position only if it takes out its most recent high (black horizontal line) and consolidates the handle tightly.