NVDA is showing strength. I am using a variety of old and new indicators and thinking in this analysis. First, there is Andrew's pitchfork MLH 1 and it's clone. Price has pretty well been contained within these two forks and key pivots have been accounted for along the median lines. Next, there is the gap acting as support. But the gap is not alone, we also have Lazy Bear's edition of Tim West's earnings hidden level support. Kudos really go out to Tim for opening my mind to this type analysis. Thank you both for sharing your talents. Finally , I am using Chris Moody's ultimate RSI multi time frame indicator. This indicator has the unique ability to display two RSIs of different time frames at the same time. Here I am using a weekly and daily. The orange weekly is trending down and knowing what is happening on the larger time frame is key. Thank you Chris for this fantastic indicator. I have added a trend line connecting the weekly tops . With this indicator, my thinking is price will reverse here in oversold territory and return to an overbought condition above the yellow line. I am also using the blue daily to draw a pitchfork to help with the path and timing. I see the possibility of price running up right into earnings. Many thanks to the contributors here at Trading View!
Comments
A-shot
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Thanx for mentioning chri's indicator - im snatching it.
littleriver
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Your welcome, Chris deserves all the credit. The indicator is a really good one.
A-shot
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Strange - when i copy the code it looks differently on the same chart (via make it mine) - does not have 2 lines
littleriver
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You will have to work with the settings and the time frame your viewing the chart is relevant . I look at daily . It may be going back to some default settings. Each time I open it , I go inputs and change it.
littleriver
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If you want it to look like I have it, set it up with same imputs as the make it mine chart.
A-shot
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doing just that - never had to do that before:) Special indicator