NVDA - Head & Shoulders Forming
Price is forming a head & shoulders pattern signifying the end of yesterday's surprise rally. This pattern is forming on several other major indices and stocks in the tech sector suggesting a bearish insurrection throughout. The bearish crossover on MACD further strengthens the trade premise. Look to enter short on break of support at $225. Stops right above entry and take profits at $210 where we've previously seen strong demand come into play.
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.