My view of
NVDA
support lines.
When looking at the support lines in
NVDA
, I think of them in three tiers of defence:
The first line of defence: If the market holds this line, it's likely just a minor correction in the overall trend. In this case, it's recommended to buy the dip.
The second line of defence: If the market holds this line, it may take a bit longer for the correction to occur, but it's still considered a minor correction. Again, buying the dip is recommended.
The third line of defence: This is the last line of support. If the market breaks this line, it's a sign that the trend is changing. For those who follow Elliott wave theory, this would mean that a 5 waves impulse up is done. For other technical analysts, stage 3 has begun.
If you want to know more about my strategy, follow me.
Legal Disclaimer: The information presented in this analysis is solely for informational and educational purposes only and does not serve as financial advice.
NVDA
support lines. When looking at the support lines in
NVDA
, I think of them in three tiers of defence: The first line of defence: If the market holds this line, it's likely just a minor correction in the overall trend. In this case, it's recommended to buy the dip.
The second line of defence: If the market holds this line, it may take a bit longer for the correction to occur, but it's still considered a minor correction. Again, buying the dip is recommended.
The third line of defence: This is the last line of support. If the market breaks this line, it's a sign that the trend is changing. For those who follow Elliott wave theory, this would mean that a 5 waves impulse up is done. For other technical analysts, stage 3 has begun.
If you want to know more about my strategy, follow me.
Legal Disclaimer: The information presented in this analysis is solely for informational and educational purposes only and does not serve as financial advice.