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nirmalc83
Mar 22, 2018 3:25 AM

NVDA long Long

NASDAQ:NVDA1D
NVIDIA CorporationNASDAQ

Description

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NVDA long over 252. Ascending triangle look.

Comment

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Closed just below or at the bottom trendline of ascending triangle. If the line is drawn perfectttttlly, todays candle is within the pattern.

Still monitoring. If market reverses, this could be a good buy if triggers.

Comment

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Long idea invalidated due to close below Ascending triangle.

See comments. Ascending triangle can be a 'bearish' pattern at divergent highs.
(Thanks to SOXLite)
Trend AnalysisChart PatternsNVDAS&P 500 (SPX500)Ascending TriangleBullish Patternssemiconductorschips
Comments
SOXLite
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Divergent highs will cause price to move down. All tech and market is bearish. It is a bearish ascending triangle.
nirmalc83
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@SOXLite, Thanks for the reply! Good point about divergence and tech/market being bearish. But as far as I know, bearish ascending triangles are continuation patterns on an already downtrending stock. But point taken =). Caution is definitely warranted and likely market is going to pull this down with it.
nirmalc83
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@SOXLite, Thanks for the tip. THis was indeed a bearish ascending triangle. Learnt something new! =)
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