NVDA SHORT TO 620 BECAUSE BEARS PARTY WITH GOOD GPU'S

Here's a neat little POTENTIAL setup.
I added a projection line.
I probably shouldn't have added a projection line.
It will probably make me look stupid in a few months to a year.
Or maybe even right now.
Depends if you like my charts or not.
Or have just recently followed.

This chart is a little more longer term.
Do I think NVDA crashes some 32% to $620 overnight?
No. Sorry, but even bears gotta be realistic.
There will be stops along the way.
There are some levels of support heading down.
But ultimately.
There are a lot of rejection areas stacked in a small window of time.
Weekly RSI is crossed down.
Daily RSI still technically bullish.
That can change quickly.
Monthly RSI still technically bullish.
But also, pretty much maxed out.
4 hour is on the chart 55.41 to 55.17, still technically Bullish until crossing.

Price targets are marked, which include but are limited to only 4 (I normally include a lot more but I want to keep this chart clean), as the patterns and major trends are well defined.
You'll see.
RED HORIZONTAL rejection line at 1200.
PINK TREND LINES, ALL currently rejection trends, all of which can breakout in future.
GREEN TREND LINE, It's a superman strong trendline. IF PRICE CONFIRMS, YOU WANT IN.
WHITE GREEN HORIZTONAL, IDEAL bottom from the drop. 617.21??
GREEN HORIZONTAL, potential BOTTOM. (this number projects out some 2 years or so, and I'm not sure we see it until we see upside targets of ridiculous numbers, like 1200 or even 1800 per share.
I could then see NVDA taking down the market.
Which would bring price to 230.
That move is very possible.
620 to 800 buy nets 2 to 3x profit at those 1200 and 1800 price targets.
A drop from those price targets to 230 is just around 80%.
If you don't think a stock can lose 80% of its value and run to 5000, SEE META.
Too lazy to look?
Got ya covered.

Does it happening to META mean it will happen to NVDA??
NOT ONE BIT.
My point with that is that an 80% drop followed by a 600% run isn't totally out of reality.
Because it literally happened.
Multiple times, but I only used META as the example.

This chart covers TECHNICALS only.
Mostly Trends, Price targets.
But also, put/call.
check the ratio's heading into AUG thru NOV.
They look a little high to you?
Maybe it's just me because it's near 4/20.
https://www.barchart.com/stocks/quotes/NVDA/put-call-ratios

Alright, I think that covers everything.
I'll add more when I see via updates to this chart.
IDK where the entry would be, but somewhere between now and 890.
I'm WRONG often, don't take my word for any of this chart.
Look everything up, pull from a lot of sources, do YOUR analysis and then make a decision.
GOOD LUCK.

Comment:

return move could take us to like 859 and reject again. At some point, I'd expect a bullish move to the upside that ultimately fails to really gain any support levels which would then cause the free fall down.

Comment:

that was fast.
I starting to think it's due for a bounce in the short term, but I'm pretty sure we see that 590 to 620 price.

Longer term price target still remains bullish to like stupid high numbers.
Green trend is STRONG.
I wouldn't be concerned until that clearly breaks and confirms. Then you're looking at 238, but until then, I'd still maintain a little caution as a bear. I mean, by all means, make money, as much as you can, but also, don't lose it if we're near a trend and the upside starts to become limited. That little extra isn't worth being wrong, in most cases.

For Bulls, you're looking at that same trend, but you want it to catch and start to play the pattern and projection drawn, as that can take it up to 1200 or higher.

Again, I'm usually wrong, my trading style allows for that error. You can read what I'm saying, but ultimately, you'll want to focus on the horizontal price targets, and the trends, both of which, once outside, can break to the low or high targets, at which point look to enter long or short depending on where we are. AND DON'T FOLLOW THE PROJECTION LINE EVEN IF IT STARTS TO LOOK ACCURATE!!

Good luck!
Remember, chart is a longer term 4hour.
Hope everyone is making some great trades, and cashing in a lot of profits!!

Comment:

So far so good, Hope everyone is doing well in your trades!
At this point we're looking for more downside soon to take over from this pump back to 800's.