Thnacks

Possible retrace to neck line

Short
Thnacks Updated   
NASDAQ:NVDA   NVIDIA
NVDA is hitting resistance around the 230 mark. This is a confluent support/resistance line. I would like to see a retrace to the neckline before heading to the break out target. Price is overbought on the RSI and the MACD is beginning to roll over.

Not financial advice.
Comment:
I shorted NVDA in the mid 220s and closed my position at 210. Earnings and CPI and next week. If NVDA goes up I will be looking to short in the 230s or looking to go long at the neck line.

Not financial advice
Comment:
Price has hit the target from the r-H&S. I bought a put today in the 270's. The daily candle is a big rejection so we will see what the follow through is. RSI and MACD show divergence.
Disclaimer

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.