I sold all of my positions in NVDA-last week.
I have been positive on the stock for a long time, but something is developing in the chart above that concerns me.
Look at the lower top indicator (AO). Please note that this has now put in place a 4th lower momentum top (red down arrow).
The chop zone and chop (bottom two indicators), while still green, have lost all signs of trend.
The Ichimoku Cloud is heading lower, and-NVDA is now trading into the cloud.
This setup has all the signs of a spike downwards.
Conclusion: avoid this stock.
Don.
I have been positive on the stock for a long time, but something is developing in the chart above that concerns me.
Look at the lower top indicator (AO). Please note that this has now put in place a 4th lower momentum top (red down arrow).
The chop zone and chop (bottom two indicators), while still green, have lost all signs of trend.
The Ichimoku Cloud is heading lower, and-NVDA is now trading into the cloud.
This setup has all the signs of a spike downwards.
Conclusion: avoid this stock.
Don.