Nvidia daily chart
has formed a hammer
, on the back of the 100 and 200 MA support, the kumo cloud, and the 50% fib of the latest bull
wave. In terms of volume
we got a high reading indicating some major market participation. While, in terms of the oscillators, the RSI
is above 50 and pointing upwards, the stochastic
is pointing up as well and may cross-back from oversold. All things considered, we're happy to go long with a stop below all the support, aiming to crack the recent highs at around $21.