NVIDIA has been in the overbought area for almost 1 month now. In my opinion, this looks like the start of a major correction.
RSI has to cool down for a while, which will most likely result in a price drop.
Currently, I have no position in NVDA. However, If I were in a long (swing) trade, I would close the position now.
RSI has to cool down for a while, which will most likely result in a price drop.
Currently, I have no position in NVDA. However, If I were in a long (swing) trade, I would close the position now.
Trade active
KeyBanc raised the price target to $950. I'm planning to open a short position today. My entry point depends on the price development in the next few hours. It would not be surprising to see 850-900ish area before today's close.PT1 ~680
PT2 ~640
Any thoughts on this?
Trade active
Trade active @ 827.6Note
trend reversal imminent if it doesn't close above 810 tomorrow33 bars (49 days) upwards trend line broken
Note
Update on price targets:~680
~650
~620
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.