Nvidia a technical markdown
This idea is based on the need for price to close a gap i.e. GAP UPFILL.
On the 1-hour time frame, Nvidia posted a gap on the 24 th Feb 2024. This gap spans
$680-$740 and remains unfilled.
Price topped at $975 on 9th March 2024, and then went into a distribution consolidation.
In April 2024 we have seen a break and retest of this consolidation.
This idea considers a possibility that Nvidia may be in a Markdown Phase, and suggests a short as follows;
1. Enter - $800 -$810
2. Stop - above the recent swing high of $850
3. Target - the gap low of $680
4. RR = 3
NB - The intrinsic valuation provided is a fundamental calculation based on my estimation of the fair price to be paid for Nvidia. It is based on a Discounted Cash flow methodology.
On the 1-hour time frame, Nvidia posted a gap on the 24 th Feb 2024. This gap spans
$680-$740 and remains unfilled.
Price topped at $975 on 9th March 2024, and then went into a distribution consolidation.
In April 2024 we have seen a break and retest of this consolidation.
This idea considers a possibility that Nvidia may be in a Markdown Phase, and suggests a short as follows;
1. Enter - $800 -$810
2. Stop - above the recent swing high of $850
3. Target - the gap low of $680
4. RR = 3
NB - The intrinsic valuation provided is a fundamental calculation based on my estimation of the fair price to be paid for Nvidia. It is based on a Discounted Cash flow methodology.
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