Dont worry about all the lines and shadings - those are for me to trade with. And that is what it takes to draw a near-perfect forecast.
Just follow the solid black path. Target 525-530 by 1/5/2024. From there it will make shallow retrace and begin re-accumulation phase before breaking out above 537 later in January.
Buying the Jan 12 510 calls once I get confirmation next week, I'll send an update when I enter.
Not Financial Advice.
Just follow the solid black path. Target 525-530 by 1/5/2024. From there it will make shallow retrace and begin re-accumulation phase before breaking out above 537 later in January.
Buying the Jan 12 510 calls once I get confirmation next week, I'll send an update when I enter.
Not Financial Advice.
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Entered calls.
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Added calls. Ready for liftoff within the next hour. This will be trading at 501.82 at 3:15pm today (12/27). It will consolidate briefly around 500 and then continue toward 528 target.
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Saw some additional accumulation today. The 501(+) will come tomorrow. Expecting gap and go.
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If we can gap 495.60 tomorrow morning, I don't see this coming back down into the accumulation zone (485-495). In the case we get the gap and continue to test 504-505, the most bullish scenario is 528 by 12/29 (earliest) to 1/3/2024 (latest). That is the most bullish scenario.
I'm seeing big green for the market tomorrow. Big green.
I'm seeing big green for the market tomorrow. Big green.
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Here is my new post for NVDA bigger picture. 528 is just an initial target on the way to 570-660 in the coming months.
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Next critical levels we need to break on the way to target are:
498.76
503.85 - this is the most important
After that price will tend toward 524.90
498.76
503.85 - this is the most important
After that price will tend toward 524.90
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This is becoming a longer re-accumulation phase than anticipated, but still on track to hit target. Here are my expectations to end the year:
- Gap above 497, needs to break 499 and then 503 to set this in motion
- If we break 499 then we will close between 500 and 509 tomorrow, could trade higher intraday but will likely come back into that range
- If we dont break 499 and it starts to sell off, needs to hold 493-495 or it has risk to retest 483-489.. but I dont see that happening
** We are at the backup/retest phase of the reaccumulation since 480, next is markup to target.
Pretty bullish here, might surprise a lot of people next week.
- Gap above 497, needs to break 499 and then 503 to set this in motion
- If we break 499 then we will close between 500 and 509 tomorrow, could trade higher intraday but will likely come back into that range
- If we dont break 499 and it starts to sell off, needs to hold 493-495 or it has risk to retest 483-489.. but I dont see that happening
** We are at the backup/retest phase of the reaccumulation since 480, next is markup to target.
Pretty bullish here, might surprise a lot of people next week.
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Finally got the expected pop, placing the Jan 12 510 calls In The Money. Take some profits here, but keep some of the position open. Watch the following:
- 510-520 is an important area, if we don't clear 523 this could turn out to be an expanded flat, which would put NVDA at risk of a pullback to 450s before the next major move up to 530+
- If we can clear 523 then high probability this continues to at least 528-530
- 510-520 is an important area, if we don't clear 523 this could turn out to be an expanded flat, which would put NVDA at risk of a pullback to 450s before the next major move up to 530+
- If we can clear 523 then high probability this continues to at least 528-530
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Needs to hold above 508.63-510.60 as it attempts to break higher here. Below 510.60 runs risk of near term pullback to 499-503.
Critical levels we need to break directly above to get to target are:
515.69
518.15
522
*523*
524.90
Critical levels we need to break directly above to get to target are:
515.69
518.15
522
*523*
524.90
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Selling more calls here.
Trade closed manually:
Peace. I'm out, the Jan 12 510 calls just sold for 15.23 (11 points in the money). That was fun lol.
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Target was 525-530 by 1/5/'24, hit 2 days late.
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wow.
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Check out my latest post for a near-term market forecast:
