Juliac
Long

NVDA - Inverted Head & Shoulders (Bullish Reversal)

NASDAQ:NVDA   NVIDIA CORP
The formation of an inveted Head & Shoulders Pattern plus a gap above the neckline today looks to confirm that the trend is reversing up. It would have been double confirmation if the gap was stronger (ie decisive green candle with a large gap prefered). Nevertheless this could be the start of a new bullish trend with target around 200 mark. I would put a stop loss just below the right shoulder at 143. Let's hope it plays out.
They're showing up in a tech growth screen I put together that filters mid and large cap tech stocks with 1 year EPS growth and 1 year revenue growth between 15% and 50% with price below their 200 day average but above their 20 day average. Jim Cramer called a bottom a few days ago, and the chart backs him up. Time to see how it plays out next week.
Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar Shows How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Help Center Refer a friend Feature Request Blog & News FAQ Wiki Twitter
Profile Profile Settings Account and Billing Refer a friend My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out