Of course it is difficult to short NVDA :) but watching RSI weakness and high volume with red candles suggest short term bearish trend or correction move - the stock in consolidation for almost a year - the idea is to short after earning report on Wednesday - Main supports at 113-104-94 strongest one then the gap at 70
Trade active
-3%zoom in
Note
stop loss for this short is latest top 143.5 . earning is tomorrow wedNote
Note
NVDA Like a magic, closed exactly at same point of yellow line at 94 Note
NVDA Now as per chart above, we have 2 scenario , bounce to 104 then consolidation then targeting the red cloud. other scenario , small bounce to 98-100 then continue to 80-70 Trade closed: target reached
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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.