Establish some positions in higher IVP. Wasn't the highest on the list, but it is in play and had at least some IV. Trade Setup: - 1 NVDA Apr 21 85/90/120/125 Iron Condor @ $1.11 DTE: 53 Max Win: $111 Max Loss: $389 Breakevens: 88.89 & 121.11 Trade Management: Look to take 50% winner or about $55 out of this. I will likely roll the untested side up...
NVDA came up in our smart money course. It had a really long run, and now seems forming a Head & shoulder. Also seems forming a double top. We think it has very good down side potential & it can drop to $90 shortly. * Trade Criteria * Date First Found- February 13, 2017 Pattern/Why- Head & shoulder; Double top Entry Target Criteria- Break of $108.07 Exit...
Note the trend line break and the divergence in the Stochastic. Don't really know a good entry at this point in time, could also consolidate for a bit...
The future short-term performance of the NVIDIA stock will be decided in the next couple of days... If Nvidia is going to break the support line we are going to see a major pullback, otherwise it could reach a target near 108$
Support setting up at $99. 2nd touch and possible reversal would be good to ride. Set alert for $101. Upside is $105 the $120.
A double top with abnormal volumes and break below the oblique trendline are signals that big hands have distributed. Target for our strategy : 73 Usd with an intermediate target at 96, where we should see a small rebound. Check-out our analysis at www.wallstreetimes.com
Chart is self explanatory.
NVDA short term bounce off of first support at 85 back to 100; then falls to second support level at 73; closing the window (filling the gap)
Now down-trend has broken the 50 SMA, this signals the "Run" component of "Bump & Dump" pattern is in play.