As we try to figure out what NVDA will do next, one thing is very clear when looking at its chart: NVDA is currently trading in a very strong resistance zone.
Currently, NVDA is testing two resistance lines: 1. The Upwards sloping trend line which dates back to July of 2021 2. Horizontal resistance which is a gap fill.
As NVDA tried to break through these lines, it has been rejected thus far. There is still time for the daily candle before it closes the weekly candle, however if it were to close as is, we’d be looking at a topping tail candle which is a sign of reversal.
If NVDA closes with a topping tail, and closes with a preliminary rejection of this two confluent resistance lines, I find a pull back move to follow…
Are you trading NVDA? Let me know in the comments!
Most of what I see points downward. I’m on a short.
bulldog153
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June 200 put started today
tymmothyuss
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@bulldog153, That may be too far out of the money maybe aim for $240
M90YAA
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I think there is still strength to go around $280.. then we can short.
allout06
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I'm in NVDA shorts already. People are calling for ATH's so it makes me want to short it more.
eganon69
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SHORT with downside Target Price ~$200
FranchiT
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Big event related to AI coming March 20th to 23th in a conference
cidric5143
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Im not shorting it right now, in think more upside is coming. But AMD looks like so ripe for a short. Just pulled my trigger on amd short starter position.
sindrehod68882
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If its going down from here, will ~204 be the target?