NVDA : H&S breaking down, with a 23% profit Target

NVDA : H&S breaking down, with a 23% profit Target

NVDA has broken down a nice Head and Shoulder formation, for a projected 23% profit.

On this case, It is interesting to note those points :

This NVDA H&S Target should be placed around 308.00$, as projected the H&S calculation.
This price Target at 308.00$ correlates with the lower base of a Gap-Up, realized on the May 25th 2023, when NVDA Results were published.
Also, this 308.00$ Target coincides with the 0.50 Fibonacci retracement, starting at the low of Oct. 13th 2022.
And, this 308.00$ Target may be joined around that date of the next NVDA Results planned for Nov. 21th 2023.

So... a Short trade, right now, would be a smart suggestion, followed later with Long trade. As usual a protected Stop is always appropriate.

Have fun… WynTrader

Trade active

Humm... I'm not so sure with this Short trade.

Because, the market had a positive reaction believing that the Fed should have no further action taken.

A stop at 442.37 is in place.

Let's see!

Trade active

2023-11-03 11h21

Hummm... Stop at 442.37 is having its footh beginning to feel the heat of the price on fire

Have fun!

Trade closed: stop reached

2023-11-03
Too bad... 😢😢😢😢 Snif

NVDA as a strong competitor beat this H&S so popular technical rule.

See you next time

WynTrader

Wyn-Trader

Also on:

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.

Wyn-Trader

Also on: