leader laggard

melson
04-03

$NVIDIA Corp(NVDA)$  is the leader of the ai craze. it almost reached the 3.618 Fibonacci retracement level before retreating. its pnf has yet to confirm a downtrend. $Micron Technology(MU)$ is trailing behind, it has just briefly touched its 1.618 Fibonacci retracement level before retreating below. its pnf also has not shown a reversal of trend. 

the fed is also contributing to the rally by its dovish stance inspite of resilient inflation. oil is on the rising trend. when oil is above $80, stocks will waver.

the overall sense is that mu will continue its retreat after the last burst effort to reach the 1.618 Fibonacci retracement level. there are many gaps below. observing the pnf, it might retrace to 80 before trending up again. 

do apply automatic investment system where you add shares at each 10% drop or at support zones if you know technical analysis. this way you conserve your capital while the stock is strongly downtrending. do take profit at 10% intervals or at resistance zones if you know technical analysis. this way you have capital to buy the dip. only applies to stocks in an index or warren buffett would approve. bon courage.

merci@TigerStars  @TigerWire  @koolgal  @Asphen  [Happy]  [Salute]  

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Comments

  • LMSunshine
    04-04
    LMSunshine
    Thanks buddy for the pnf analysis❣️ Is MU a good company to buy? Or still safer to go with TSM, NVDA, AMD?
    • melsonReplyLMSunshine
      nvda is the leader, amd,tsm and mu are laggards
    • LMSunshineReplymelson
      Which are true laggards?
    • melson
      risk reward is pretty low. wait for leader to resume uptrend then go for the laggards
  • PaulSam
    04-03
    PaulSam

    what is your target price on MU?

    • melson
      126 already briefly reached. now could be retreating to 80.
  • koolgal
    04-03
    koolgal
    Thanks for sharing your valuable insights 😍😍😍
    • melson
      [Happy]c'est mon plaisir
  • lazymoneymaker
    04-05
    lazymoneymaker
    what's you target price for NVDA?
  • Asphen
    04-03
    Asphen
    no plane icon? 😉
  • lazymoneymaker
    04-05
    lazymoneymaker
    what would your target price be for NVDA?
    • melson
      966 already briefly reached
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