Short NVDA CMP $220.50. It bounced off 200 SMA 3 times so far but that big red candle [bearish engulfing] today looks like will push the stock price below 200 SMA quickly. Expecting it to reach Target 1 of $205-$210 area soon. If this level is breached then expect $175-$180 area next level of support. Moving averages are nose diving on this one.
Short Target 1 is $205-$210 area. Short Target 2 is $175-$180 area.