Here's a potential short trade idea for NVIDIA with a focus on short-term movement while maintaining a long-term bullish outlook:
Trade Plan:
1. Entry Zone: Look for a short around the green resistance box (~$143.88 - $149.85).
2. Stop Loss: Place it slightly above the upper resistance at $152.15.
Targets:
- Target 1: $124.00
- Target 2: $111.74 (next key support zone)
Reasoning:
- NVIDIA appears to have reached a short-term top.
- Wave patterns indicate a possible retracement before resuming the long-term uptrend.
- This trade idea is for swing traders comfortable with shorting.
Keep in mind that NVIDIA remains bullish on a larger timeframe.
Trade Plan:
1. Entry Zone: Look for a short around the green resistance box (~$143.88 - $149.85).
2. Stop Loss: Place it slightly above the upper resistance at $152.15.
Targets:
- Target 1: $124.00
- Target 2: $111.74 (next key support zone)
Reasoning:
- NVIDIA appears to have reached a short-term top.
- Wave patterns indicate a possible retracement before resuming the long-term uptrend.
- This trade idea is for swing traders comfortable with shorting.
Keep in mind that NVIDIA remains bullish on a larger timeframe.
@ TheStockWhale on Twitter / X
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.
@ TheStockWhale on Twitter / X
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.