$NVIDIA Corp(NVDA)$ Looks like a big ascending triangle at the moment and a double top. With nothing to push this any higher it's likely going to wait for earnings report which in theory should be enough to catapult this above $200. If for some ungodly reason guidance goes down the tubes. The downside is likely a swift ride to at least $100 to $90.
In the meantime, I suspect that this will pull back to about $118. This would be a relatively safe entry point to short or buy puts. For a more conservative approach would be to wait for a confirmation of price action to break resistance or going the opposite direction.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments