NVIDIA has been trading on a channel for the past couple of months. Today it dropped 5% to the bottom of the channel. Although Stochastic and MACD (not on the chart) are not giving any clear signals, the OBV has been moving up throughout this time, which means interest is high and traders are buying at these levels. I already have a nice amount of shares but I am planning to buy at the support and sell at the top of the channel (for about 10% profit) if it gets there in the short/mid term. My stop loss will be placed just below the lower line of the channel.
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***THE IDEAS SHARED HERE ARE MY OPINION. THIS IS NOT FINANCIAL ADVISE TO PLACE TRADES. PLEASE DO YOUR OWN RESEARCH AND ANALYSIS BEFORE BUYING/SELLING STOCKS.***
***If you get anything out of this TA, please like and follow for future updates and more TA. Thanks a lot!***
***THE IDEAS SHARED HERE ARE MY OPINION. THIS IS NOT FINANCIAL ADVISE TO PLACE TRADES. PLEASE DO YOUR OWN RESEARCH AND ANALYSIS BEFORE BUYING/SELLING STOCKS.***
Note
Nice bounce from the support this morning. Up about 5%:Trade closed manually
Closed at the top of the lower channel for 10% profit! I could have placed a stop loss but I reached my target so I exited:Note
Resistance pushed the price back down. I am looking to enter again if it moves to the support:
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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.