NVDA honestly looks good for either direction, as we can easily see this thing go through one more rally back into the 300s, but if it rejects off the retest of the supply level of 292-294, then we can easily see this thing head back down to the 284 range, then finally a move to the 270 zone.OVERALL... I want to play
NVDA as a short. Not because I don't they are a great company with amazing sales and great growth, but it looks quite a bit overextended and will most likely be hit hardest during a coming correction. LASTLY, this has a bit of a triangular pattern forming so a break in either direction would give us a better sense of where the stock stands.
SUMMARY: Watch for a rejection off the 292-294 supply zone, OR a move above 295, which could send it to 305 very quickly.
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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.