NVDA has been in a long and wide consolidation, rectangle if you like, and has recently shown signs of a determined move up with breahces of the upper channel line. It showed a similar move back around June and july, but was at both instances pushed down by big, red candles. It has gained momentum, both in terms of EMAs and various indicators. If the break of resistance holds, and price keeps moving up, we might be in for a good run. Should (recent) history repeat, we might be looking at $100 once again. Keep in mind, the last visit to this level is only a couple months ago. Personally I am currently short Nvidia (yes, a dangerous place to be..), however I see both directions happening. So my point is look for signs of a break of the high of $144, or a rejection by way of significant red candles and a weakening of volume, RSI, MACD or other indicators you prefer.Note
NVDA has shown signs of fatigue lately, and now also pushed down by varied earnings effects for other Mag7 stocks. It is in the green pre-market today, so maybe it will get a positive end to the week. I am still short, slightly in the green.Order cancelled
Kind of in consolidation, not much of interest happening. Year end is approaching, will pick this up again when there are more cleare directional indications.
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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.