NVDA confirmed the daily 50 SMA down today, following the 
SMH last week. NVDA also lost the split lows in similar fashion to 
AVGO last week. The weakness in semiconductors contributed to the sell-off in technology names today, which provided an excellent opportunity for shorts. Watch for any gap ups in technology names to get sold off and confirm the previous day's lows, which will confirm the short for further trades to the downside, as we enter a seasonally weak time for technology. Trade closed: target reached
NVDA traded down to the next several daily demand zones pictured above, and the trade was closed for 10 dollars/share on runners. I continue to watch NVDA and other QQQ names to get rejected into daily and hourly supply and remain sell-biased until these names start reclaiming supply.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.