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NVDA can it fall from the ceiling after Earningse
NVIDIA
NVDA can it fall from the ceiling after Earningse
By AwesomeAvani
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Updated
May 31, 2023
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May 26, 2023
On the 2hr chart, NVDA popped from earnings over 20% putting with a PE Ratio sky high
on the promise of semiconductor heaven and AI ecstasy. Can it stay there ? Will it lead
other technology companies ( semiconductors / cloud services / AI et cetera) higher
as well ? Is it now overbought and looking at a glass ceiling? The indictors suggest a near-term
top, I think. ( Money Flow Index. Stochastic RSI ). Accordingly, I will buy put options
striking $ 400 for expiration 7/21 and be quick to take profits expecting NVDA to
equilibrate in less than a week. In th meanwhile, I will hdege by keeping my AMD
and MU call options open figuring that they will jump up as copy cats of this move.
I will cut them loose as soon as price action and a loss of volume suggest retracement as well.
I see buyers who got in late with high FOMO to be the lad sellers fueling the put options
into easy profit.
May 26, 2023
Trade active
NVDA had some upside left awaiting the retracement
May 31, 2023
Trade active
Put options down 62% awaiting retracement. Holding for a likely loss.
AMD
earningsplay
MU
NVDA
Oscillators
popanddrop
rsioverbought
SOXL
Trend Lines
TSM
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