On the Weekly timeframe of
NVDA
we can clearly see that price has been forming a very strong uptrend for some time now with higher highs & lower lows dating back to the 29th of April 2013.
In the last 11 trading days, NVIDIA has moved up 25% from $392.39 to $486.20.
Within that 11 days we've seen NVIDIA reach the top of that W pattern.
My theory is that we will now see NVIDIA have a short sell to the $435 mark. For a -10.5% movement as Lux algo is currently acting as a support level at that price. If this is the case, this would mean this is a perfect buying opportunity for investors to get a discounted price for NVIDIA holdings as it indicates a pullback to the upside for the bulls that could break resistance and reach as high as $587.88.
For Traders the short sell entry is as follows down below:
SL: 503.88
Entry: 483.87
TP: 434.89
2.4:1 R/R
Share your thoughts down below, all comments and criticism are welcomed.
- Kaia Tait.
NVDA
we can clearly see that price has been forming a very strong uptrend for some time now with higher highs & lower lows dating back to the 29th of April 2013. In the last 11 trading days, NVIDIA has moved up 25% from $392.39 to $486.20.
Within that 11 days we've seen NVIDIA reach the top of that W pattern.
My theory is that we will now see NVIDIA have a short sell to the $435 mark. For a -10.5% movement as Lux algo is currently acting as a support level at that price. If this is the case, this would mean this is a perfect buying opportunity for investors to get a discounted price for NVIDIA holdings as it indicates a pullback to the upside for the bulls that could break resistance and reach as high as $587.88.
For Traders the short sell entry is as follows down below:
SL: 503.88
Entry: 483.87
TP: 434.89
2.4:1 R/R
Share your thoughts down below, all comments and criticism are welcomed.
- Kaia Tait.