009. PIGGISH PLAY - Long Nvidia Corp (NVDA)NVDA might just have the most interesting historical price chart that I've ever traded, let alone seen. This is not surprising, as the actual price movement of this stock is completely unique - it simply defies typical protocols from a technical perspective.
This piggish play differs from the others because it is purely technical. The perfect-shaped parabola formed between a prior fractal of smaller magnitude and the current trend is incredible because of how proportionately inch-perfect the dimensions are. This is a rare setup; a lunar eclipse that occurs once every however long the time difference is between the end of the fractal and now.
I have fundamental reasons to long here, but they are insignificant compared to the technical reasons to enter a long position.
The chart is beautifully simple, so I will not complicate the trade criteria:
- Buy NVDA CALLS expiring on 7/17; Strike Range (710 - 720)
I see very little premium discount advantage at any particular strike within this range, so take your pick depending on preferences of capital allotment.
While it is clear that this stock is heading into orbit, it is less clear that the orbit it is heading towards is it's own.
- 5Galactic Pig
NASDAQ:NVDA NASDAQ:IXIC
