Tech is still trying to find it's way back up after much selling action through most of Feb.
As someone who has a long term bullish stance on NVDA...this company is at a great BUY level IMO. NVDA bounced off a 460s area support and is now right at a strong resistance/support level at the 500 price level.
Although I am a bit bearish with the market currently and think there will be much more action with the laggards of covid stocks (like some entertainment, travel etc) with stimulus looking to take place this week I can see the possibility of tech holding up till stimulus gets signed. if that is the case then NVDA should be On the watch list.
at it's current level I'd be looking for a move up to it's next resistance at 514.
NVDA doesn't exactly move like TSLA...but when it does get moving it can Make nice moves. I'm not a fan of bag holding currently, so scalps and sharers are the way IMO.
As someone who has a long term bullish stance on NVDA...this company is at a great BUY level IMO. NVDA bounced off a 460s area support and is now right at a strong resistance/support level at the 500 price level.
Although I am a bit bearish with the market currently and think there will be much more action with the laggards of covid stocks (like some entertainment, travel etc) with stimulus looking to take place this week I can see the possibility of tech holding up till stimulus gets signed. if that is the case then NVDA should be On the watch list.
at it's current level I'd be looking for a move up to it's next resistance at 514.
NVDA doesn't exactly move like TSLA...but when it does get moving it can Make nice moves. I'm not a fan of bag holding currently, so scalps and sharers are the way IMO.
Trade closed: target reached