NVDA-was recently slammed by short sellers. I took positions in the mid $90 range.
In the past week I sold all of my positions, then bought them back and added more (after it dropped on Tuesday March 21).
I think there is still big up-side potential.
From a technical standpoint, Here are the positives:
1. Currently multiple buy Fractals (green up arrows).
2. The lower indicator under the chart is CHOP; readings below the shaded area (38.2) indicate a strong trend.
The green shaded area below CHOP is the CHOP ZONE. This has been strong (up) for quite a while.
3. The top lower indicator is phase energy, and this is positive. Very strong.
4. The alligator is feeding in the uptrend.
5. 34 day moving average (ohlc/4, top indicator) is strong.
6. Prices are trading above the Ichimoku Cloud .
7. Prices are trading above the thick red Ichimoku Cloud conversion line.
8. Prices are trading above the Ki jun-Sen baseline of the Ichimoku Cloud and this has been HEADING HIGHER.
9. The 13 day moving average of phase energy (top middle) is strong.
10. The 233 interval trend-line is rising.
In my opinion, NVDA-is in a solid uptrend.
Please note: $108.30 is a 50% retracement of the sell-off, and $111.29 is a 61.8 Fibonacci retracement of the same.
If (or when) this stock approaches $120, review structure for possible right shoulder of H&S formation.
Good luck to you on all your trades. Don.
In the past week I sold all of my positions, then bought them back and added more (after it dropped on Tuesday March 21).
I think there is still big up-side potential.
From a technical standpoint, Here are the positives:
1. Currently multiple buy Fractals (green up arrows).
2. The lower indicator under the chart is CHOP; readings below the shaded area (38.2) indicate a strong trend.
The green shaded area below CHOP is the CHOP ZONE. This has been strong (up) for quite a while.
3. The top lower indicator is phase energy, and this is positive. Very strong.
4. The alligator is feeding in the uptrend.
5. 34 day moving average (ohlc/4, top indicator) is strong.
6. Prices are trading above the Ichimoku Cloud .
7. Prices are trading above the thick red Ichimoku Cloud conversion line.
8. Prices are trading above the Ki jun-Sen baseline of the Ichimoku Cloud and this has been HEADING HIGHER.
9. The 13 day moving average of phase energy (top middle) is strong.
10. The 233 interval trend-line is rising.
In my opinion, NVDA-is in a solid uptrend.
Please note: $108.30 is a 50% retracement of the sell-off, and $111.29 is a 61.8 Fibonacci retracement of the same.
If (or when) this stock approaches $120, review structure for possible right shoulder of H&S formation.
Good luck to you on all your trades. Don.