Open short Open Below 29.26 Stop loss = 29.65 Target1 =27.63 Target2 = 25.5
* Strong support at 20dma * Resistance at previously weekly closing high of 33.07 * Watch for breakout
Continues to rapidly rise PE only 7!!
Coming into Earnings NVDA is looking increasingly bearish. I believe NVDA will retrace to the .5 and .618 giving a target of 24.06 and 23.09. Cheers and Happy Trading. -Ryanhasoptions
IMO will bounce back down to the blue zone and then up with new Highs Support Fibonnaci levels -was a great retracement from the first rise
NVDA had a nice Gap & Go 8/7, look for the shorts to BTC (Buy To Close) which will cause nice price rise with a possible re-test around 24 and a bounce after.
Sharp bounce on high trading volume suggests potential upside to test 23.50 on a move over $22 key price point
We were looking to buy the pull back on this anyway. Nice MSR off the 100 SMA