Prior to trade talk resumes, Nvidia is seen here to be expected to consolidate further before it bulls run.
US Recession signals are still being digested by the market as 3 month and 10 year yield curve inversion leads to global equity sell off. US Tech industry is expected to further consolidate as markets anticipate the outcome of trade talk.
Trade talks have proven to be unpredictable due to Trump eccentric stance. Trump has been giving positive expectation while actual negotiator Robert has announced "more work to do" previously.
Trade war can move both way and markets are not expected to turn optimistic and bullish too early before clear signals by officials..
Ascending triangle is seen forming. Equity broke triangle range due to positive company news "of Mellanox Acquisition and Clearance of Crypto Hardware Inventory". Sentiments retreat will lead to the equity to consolidate further before further run.
Strong support line is expected to cushion the consolidation before bull continues.
Good luck!
US Recession signals are still being digested by the market as 3 month and 10 year yield curve inversion leads to global equity sell off. US Tech industry is expected to further consolidate as markets anticipate the outcome of trade talk.
Trade talks have proven to be unpredictable due to Trump eccentric stance. Trump has been giving positive expectation while actual negotiator Robert has announced "more work to do" previously.
Trade war can move both way and markets are not expected to turn optimistic and bullish too early before clear signals by officials..
Ascending triangle is seen forming. Equity broke triangle range due to positive company news "of Mellanox Acquisition and Clearance of Crypto Hardware Inventory". Sentiments retreat will lead to the equity to consolidate further before further run.
Strong support line is expected to cushion the consolidation before bull continues.
Good luck!
Stock: $176.87
Entry range: 155-165
Take Profit: 200-215
Additional:
50 DMA approaching 100 DMA in upcoming days, watch out for golden cross forming if 50 DMA were to successful clear resistance and break through.