Possible double top and large divergence of MACD, RSI, and Strock RSI, indicate that NVDA is likely going down in the next few weeks. Look for support (or profit taking) around the 50 MA, as it has provided strong support in the past .
Earnings come out tomorrow, so keep your stop loss in check, long term trend, II will wait for Price Action to tell me to exit, or wait till TP is hit. Good Trading.
Open short Open Below 29.26 Stop loss = 29.65 Target1 =27.63 Target2 = 25.5
* Strong support at 20dma * Resistance at previously weekly closing high of 33.07 * Watch for breakout
Coming into Earnings NVDA is looking increasingly bearish. I believe NVDA will retrace to the .5 and .618 giving a target of 24.06 and 23.09. Cheers and Happy Trading. -Ryanhasoptions
NVDA had a nice Gap & Go 8/7, look for the shorts to BTC (Buy To Close) which will cause nice price rise with a possible re-test around 24 and a bounce after.
Sharp bounce on high trading volume suggests potential upside to test 23.50 on a move over $22 key price point
Stubborn resistance around $22.30 finally broken last session on high trading volume. Price last seen in 2011 where hit $25 before pulling back. Suit bought call
NVDA expected to open at 21.88 for a Perfect Gap N Go. To learn this strategy for free go to www.RealLifeTrading.com
Nvidia daily chart has formed a hammer, on the back of the 100 and 200 MA support, the kumo cloud, and the 50% fib of the latest bull wave. In terms of volume we got a high reading indicating some major market participation. While, in terms of the oscillators, the RSI is above 50 and pointing upwards, the stochastic is pointing up as well and may cross-back from...
NVDA is showing strength. I am using a variety of old and new indicators and thinking in this analysis. First, there is Andrew's pitchfork MLH 1 and it's clone. Price has pretty well been contained within these two forks and key pivots have been accounted for along the median lines. Next, there is the gap acting as support. But the gap is not alone, we also have...