NVDA is rejecting near the $134-$135 region which is acting as the current resistance. NVDA has formed a descending channel that can be spotted on the 1hr, 2hr, 4hr and Daily time frames. We're currently rejecting off the top trend line and should reach $115-$120. However, if we break the over head resistance we head higher. I'm currently shorting NVDA on pull backs until we reach $115-$120 where I'll be getting calls. My current short region is $134-$135 where I'm loading up on $130 puts 2-3 weeks out.
Trade closed: target reached:
NVDA followed the path of the arrow that was previously drawn :)
NVDA followed the path of the arrow that was previously drawn :)