Chip makers had a great year, AMD with about 700% from the past year - however, its time for AMD and NVDA to cool off.
With indexes at ATH's, geopolitics heating up - there is no doubt that after these huge gains, people will race to take profits.
While my AMD chart didn't make a clear shoulder, the H&S pattern is still there, and im still actively short. Meanwhile, NVDA looks like a much more clearer H&S pattern. Here it is with potential neckline and target
With indexes at ATH's, geopolitics heating up - there is no doubt that after these huge gains, people will race to take profits.
While my AMD chart didn't make a clear shoulder, the H&S pattern is still there, and im still actively short. Meanwhile, NVDA looks like a much more clearer H&S pattern. Here it is with potential neckline and target
Note
well that didnt work well did it folks.
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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.