Can try to short as structure indicates exhaustion of strong impulsive move a new sellers should join now.
Reason: Parabolic on the daily time-frame. Time to go back to last earnings level (see daily chart). I'm already short as of 23 november, but I am adding more at top of this pull-back as shown. My earlier S/L was a new high, but moved that to break-even. New S/L will be at top of recent decline $93.92. Daily chart:
Among many other names today someone wanted out at the close causing a bit of an unexpected sell in the final 10mins of the day. NVDA has broken 2 key trend lines here so I'll be watching this closely tomorrow.
NVDA has gone utterly parabolic. The rush for the doors will be crowded... P/E: 50 P/B: 9 Projected EPS growth next year: 9% Insider transactions over past 6 mo.: -20% 95% above the long term consensus of value (50WMA)
1. This run initially began on 8/3/2015. See the volume surge on the weekly chart. Institutions that bought then are sitting on a long term capital gain. 2. We are now 71% above the 200dma. A climb to $100 (certainly possible) would put us at 100% above the 200dma which is an offensive sell signal. 3. NVDA broke above a long term uptrend line (15 months). ...
At the heart of VR growth! Graphic chipsets on dispaly cards are more advanced than major competitor ATI(AMD) in recent years.
Nope, this rally is carried by the old dogfights with AMD, and nope, you can't explain this by charts.... It's just like Marvel vs. DC. ;)
You should continue to watch this stock in the next few months. If it breaks this trend line and stays above, then consider NVDA as a buy.
The long term graph over the past 16 years shows NVDA peaking at a long term upper channel as it did in 2000 and 2008 indicating that the trend will most likely become negative in the near future
RSI says maybe not yet, but while Nvidia may feel stronger than ever, perhaps global economy isn't able to keep up with the pace. Only time will tell.
NVDA appears to be topping for a 3rd time over the past 16 to 20 years in concert with the tops of the key markets in 2000, 2008, and 2016. Buyers at this point are hoping that buyers down the road will be willing to buy the stock at a higher price. Right now there is a slow grind up. When sentiment changes to the negative the existing holders will find it...
NVDA is interesting as shown by approcximately 15+ years of pricing beginning in 2000. Notice the humps in 2002, 2008 and now 2016 on the top. And, notice the bottoms during roughly the same periods. Generally this reflects the Dow and S&) over the same period of time. Resistance has a high probability of taking hold in the near future reflecting a possible...
NVDA is spiking extremely up. Almost reaching Max profit PT. Standard error of possible profit max target is the green rectangle. Possible setup for a short solely based on technical alone. Short at Profit Max or after reversal pattern develops. Further fundamental research may be need, forecast is subject to change.