NVDA has a clear inverse head and shoulders pattern on the chart. The neckline at $190 - $197 has already broke.. $260-$290 is my price target by May. SPY has the same IH&S pattern as well as many other charts, but NVDA ’s looks the best IMO..
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Price target reached, a nice 50% move! shout out those who doubted this IH&S.
Head and Shoulder comparing with 2021's FED free liquidity and negative interest rate? Not sure about that my friend... I have no short positions but just be cautious as we're at a short term overbought top.
DiamondHands4L
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@businesstengi a retest of the neckline would make sense, but markets will be overall bullish until May regardless of macro
DiamondHands4L
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@businesstengi also it has ran from $150 to $220 in the past 3 months.. avenging $23 a month. i think $40 more in the next 3 months is likely if this momentum continues, but i agree this recent rally is unsustainable and i see a nice dip starting in May based on charts and astrology