Whilst this looks stretched the trend remains in tact. I think earning has halted the momentum of a lot of tech and caused a lot consolidation triangles across most tech equities. I'm biased towards a buy but I'm waiting for a break. Earnings late (Could there be a possible extra run up prior?). First target 450, then 500 (Just picking out rounded psychological numbers)
Nvidia as 1 of top largest US Tech at tf 4 refer to TCT winged pro and TCT momentous pro signal i believed able to break 370.50 and resistance ahead at 378.40. Momentum still at good position to continue her journey to 385.20. Today if Nvidia able to closed at above new channel, im guaranty even 400 usd in pocket plus dividen as extra booster given before
Short the ATH top with stoplose above. Redboxes are areas of interest if it breaks upwards. However several untested areas below. Red will act support if break above.
Long on green.
White box is a bit of a a strange zone as there are a few relevent fibs on this area but no relevent support on higher timeframes.
Quite a interesting trendline. Will probably be...
Key levels like this with NVIDIA create a probability for correction.
For every probability estimate we make in one direction there is residual probability in the opposite direction.
This means potential losses.
Lose your money and sue yourself! This is not advice to trade in securities.
as Nvidia makes it's 3 wave correction pushing down to 111 high volume price action.
Fundamentally, the graphics card maker is in a brilliant position as leading graphics card provider to work in future disruptive industries, such as AI, QC, Crypto and Autonomous driving, as well as established industries such as Gaming, CGI/animation and CAD design.
I review NVDA on larger time frames. There is a tremendous fight between the bulls and bears at a 23.6% retracement on the Daily time frame, with momentum heavily for the south. NVDA has suffered the worst fall in its history. It is still a bear market at least on the Daily and Weekly time frames.
In my previous screencast of 17th November, below all this text, is the story of someone (not from Tradingview) messaging me to ask if NVDA was good to buy. They were disappointed when I simply said "No".
In the current screencast I follow up on how the FOMO bulls were punished for attempting to hunt a gap too early.
This screencast is not advice. I am not...
In the screencast, I give a little story first about someone (not from Tradingview) who enquired about buying into NVDA.
My simple "No" wasn't received with much enthusiasm.
What happened in ULTA is a lesson for people interested in NVDA.