freakypab

NVDA Support breakage

Short
NASDAQ:NVDA   NVIDIA
NVDA is all kinds of bearish but barely suriving by a thread. Nvda has channel traded this range since Dec 23rd however. Each jump from the 295.47 area has been weaker. Also we have every reclaim of the EMAS fail meaning bears have control. And to top off Momo indicators show us bear control. Now support broke AH but with small green futes pump i can imagine it will open up above. NVDA is bearish unless it breaks through $298. I would play it short with Put entries at 297.50 For EMA rejection. If it opens below 295.47 then can take put at rejection of 295.47. For a ride down to 287.69 and 280. A strong downtrend can send it down to 271.32 but thats pretty agressive

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.