• Since our previous analysis, NVDA did exactly what we expected it would, as it is correcting after touching a strong resistance level (link to my previous analysis is below this post, as usual);
• NVDA did a Double Top chart pattern, which brought some correction;
• Now NVDA is trading just around the dual-support area we mentioned in our last post (21 ema +...
Mighty NVDA reacted strongly to our first proposed support and first large down going wave might have been completed.
As shown on the chart , Major down going wave from ATH to last major low can be labeled as 5 leg down 12345 with wave 4 as inverted flat ( See related idea for details). Confirmation for completion of wave A is a trade above labeled wave 4 high...
One of the industries I'm looking to accumulate heavily in the bear market is AI and Tech. Nvidia is a leader of it's field and will be one of the main companies that rises from the ashes better and stronger. Nvidia went on a crazy run 6 years going from around 7USD to 300.
It's now down 50% from its ATH and like most stocks, I expect them to keep bleeding...
• NVDA is incredibly bullish, as it is still doing higher highs/lows, trading consistently above the 21 ema, and there’s not a single top sign on it;
• However, we must pay attention to some key points. First is the black line at $170, which is a key resistance for NVDA;
• Only by breaking the $170, NVDA will resume the bullish momentum and seek the next target at...
NVDA continues to work on its bottom. The Reversal Candlestick in October signaled the end of this stock's correction. The stock has plenty of growth for the future.
The red line is the bottom completion level for this chart, a strong resistance level. There's strong point gain potential when the current sideways action breaks out upward.
Nvidia approaching major resistance in this year's strong downtrend. It has about 3% more to go before reaching the key $170 level where it rejected recently. From there, it has little room before running into the brick wall that is this year's bear market. I suspect, depending on the coming week's opening, Nvidia will rally until touching the key $170 level where...
Looking at the NVDA NVIDIA Corporation options chain, i would buy the $180 strike price Calls with
2023-3-17 expiration date for about
If the options turn out to be profitable Before the earnings release, i would sell at least 50%.
Remember, this is a medium term play, we could not necessarily see instant results.
Looking forward to read your...
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I warned about a very strong bull trap in NVDA on 28th July and now the stock has a fresh low. !
As discussed in previous idea , inverted flats in bear market are among the most difficult patterns to recognize. Lets review published idea first :
Now, What is next?
As shown on the chart , a zigzag correction is most likely forming in NVDA and the stock is...
Total credits collected/realized gain of 11.56 ($1156), with the difference between 160 and current price (125.66) an unrealized loss.
Will look to sell call against on Monday with a starting cost basis of 160.00/share, as well as potentially covered strangle (short put + stock + short call). Unlike my QQQ 300 covered call (See Post Below), this one...
PYPL & DKNG 5:22
I say something like 17-6 in the beginning when I'm looking at DOGE. I meant to say 7.6 cents when referring to 7.6 cents being a smaller position entry area and 6 cents for a more sizeable one.
NVDA showing the makings of a Cup & Handle Breakout. It has retraced 78% from high, and has attempted to clear the 78% fib line. However, it is riding the upper band of the Bollinger, which is widening and signalling a consolidation. There is considerable resistance above which might lead to a false breakout and breakdown.
I would consider a long swing position...
NASDAQ:NVDA still have time to have an "outside quarter" ... after breaking last quarter's low, it has rallied to retrace 50% of the previous quarter's candle.
This is not an example of #SSS50PercentRule because NASDAQ:NVDA is DOWN on the year, therefore it does not have full time frame continuity.
This would be a 16% rise over the next 5 weeks.
Rejected off of the .786 retracement, top of the regression channel down. China COVID lockdown concerns looming for a nice catalyst and overall demand is subsiding. PT TBD but I'd expect to see this back in the 120-130 range before EOY, as long as FED doesn't make any bullish change to expected policy. 6/14 RSI and MACD both showing bearish movement.