Did you ever feel like you missed out on NVDA? Don't worry, you can make up for some of that and ride the price on its way down (aka, short selling or put options). The bear is coming for the market this week and it's going to ravish the tech.
NVDA price is at a pitchfork resistance level and so is its RSI. Additionally see the divergence between the price highs and the RSI highs which also indicate a bearish outlook. These (as well as insights from my own unpublished indicators) tell me that a significant price drop will come this week.
NVDA price is at a pitchfork resistance level and so is its RSI. Additionally see the divergence between the price highs and the RSI highs which also indicate a bearish outlook. These (as well as insights from my own unpublished indicators) tell me that a significant price drop will come this week.
Comment:
well, yesterday morning CPI came out and inflation turned out less than expected and that pushed the market up
Comment:
I am still bearish on the market and sold short more NVDA earlier today at 460.45.
Comment:
The market looks bearish for the rest of the month, at least. I expected it to start to fall earlier but it seems the better-than-expected CPI report gave it an extra boost. But I have relatively good confidence that the market will fall over the remaining of the month.
Trade closed: target reached:
I closed my sell short position at 433.81. With the additional shares I sold at 460.45 on July 20 (see above) I came out with profit.
NVDA may continue to fall next week but given that earnings are coming up I thought it's safer to close the position.
NVDA may continue to fall next week but given that earnings are coming up I thought it's safer to close the position.
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