Is it almost time for NVDA to breakout?
For over a month, we've watched NVDA closely in a tight consolidation range. After being rejected multiple times between $530-$540 and seeing a pre-Christmas drop to $517, it's highly likely NVDA could breakout soon.
Now the question we should be asking is if the $517 level holds on Monday. The uptrend trajectory loses hope the moment $517 is lost and we could be well seeing the $490 range within a matter of a few trading days.
I already started a position Thursday afternoon, since I wanted to be aggressive on the stock, however, anything could happen pre-market Monday and that would give us a sense of direction for the day.
Watch closely. This is a make it or break it situation. Good luck!
Now the question we should be asking is if the $517 level holds on Monday. The uptrend trajectory loses hope the moment $517 is lost and we could be well seeing the $490 range within a matter of a few trading days.
I already started a position Thursday afternoon, since I wanted to be aggressive on the stock, however, anything could happen pre-market Monday and that would give us a sense of direction for the day.
Watch closely. This is a make it or break it situation. Good luck!
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