NVDA is bearish fundamental stock and therefore would be traded in on a short position.
NVDA daily is a big symmetrical triangle that lasts from August 2022. Price found resistance at the upper blue dotted line and fell. Until the price doesn't break out of a symmetrical triangle it is neutral with the possibility of a short position at the moment.
Volume did however increase after the breakout from BigRed 200 days MA which is bullish.
RSI is at an overbought territory which is more bearish than bullish.
MACD histogram is ticking up while both the MACD line and the signal line moving up which is bullish.
Overall: NVDA is at resistance while RSI is at overbought territory which indicates a small possibility for a break above the trend line at the moment. An initial drop is likely and BigRed should act as support. In the case, the price manages to drop below BigRed, 50, and 20 days MA it is very like it will drop out of a symmetrical triangle which would trigger a short position for sure.
At the moment 1/3 of the position is for a short position.
NVDA daily is a big symmetrical triangle that lasts from August 2022. Price found resistance at the upper blue dotted line and fell. Until the price doesn't break out of a symmetrical triangle it is neutral with the possibility of a short position at the moment.
Volume did however increase after the breakout from BigRed 200 days MA which is bullish.
RSI is at an overbought territory which is more bearish than bullish.
MACD histogram is ticking up while both the MACD line and the signal line moving up which is bullish.
Overall: NVDA is at resistance while RSI is at overbought territory which indicates a small possibility for a break above the trend line at the moment. An initial drop is likely and BigRed should act as support. In the case, the price manages to drop below BigRed, 50, and 20 days MA it is very like it will drop out of a symmetrical triangle which would trigger a short position for sure.
At the moment 1/3 of the position is for a short position.
Consistency is the key of success....