Short

Nvidia - Still waiting for a correction!

Updated

is clearly overextended but still not bearish at all on the smaller timeframes.

If you watched my previous analysis on Nvidia, you know that I have been bearish for quite some time and totally wrong so far. But there was never ever any single sign of weakness so I did not take any trade betting on price to go down. Nvidia is still retesting resistance, it is still somewhat overextended and I still do expect a visible rejection away towards the downside.

Levels to watch: $140

Keep your long term vision,
Philip - BasicTrading

Note

Quick update on Nvidia:

It seems like the chart of Nvidia knows something which a lot of us don't: a corrective move is about to happen. We have the confluence of cycles, a channel, support and resistance and probabilities. Put your seatbelts on!

Levels to watch: $120, $50

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