NVDA : Facing Resistance, Short now, Stop -3.5%, Lmt+8.4%
NVDA : Facing Resistance, Short now, Stop -3.5%, Lmt+8.4%
Nov 16
Oh Yes, NVDA is ready to be shorted !!!
On October 26, I was convinced that it had just broken many technical reference points, projecting a nice and clear Head & Shoulders fall of -23%. On this one, I made an prediction error. Sorry about that. Or NVDA is very well managed; they know what they do!
Since then it has increased by +20%... Humm...
Well now, NVDA, we'll Wyn this time.
NVDA has just turned around today against resistance dating from August 2023 at $500.
So, projecting a correction is a good idea, I think so. No sure; we'll see.
As on the graph, a Short would be acted at 488.88, the Stop at 505.51 (-3.59%) and the Lmt target at 446.60 (+8.48%)
The target combined many supports:
- Moving average, Ma 18-21 (red)
- Moving average, Ma100 (blue)
- Fibonacci retracement at 0.5.
So Have a good time,
WynTrader
13 hours ago
Trade active:
NVDA Short
On November 14th, we had a shooting star, showing a possible reverse down action. Combined, at the same time, with the resistance met, we have enter in a nice Short strategy.
So, for now, we have nothing to do: don't touch anything, just wait and stay Short.
Humm... Nothing is sure, but we are confident.
WynTrader
Source: tradingview
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