Observation: We took profit on NVDA as planned over the past month just in time, and the price dropped massively today, towards our "Buy-back levels" that we identified back in December.
Which means, the following levels could be ideal for a) adding to your position, or b) start fresh with NVDA, buying it at lower prices!
Buy back order...
I think we might form a topping pattern, and take some time to break down here, so, I'll look to short on a retest of the earnings level above.
Price won't slice through this level immediately, it'll take some time to coil, and eventually break out confirming the decline.
With how steep valuation is, I'm inclined to look for hedges to my long positions, that's...
NVDA breaking down recent uptrend line but acting well today at 50dma. I guess it took out many traders longing from 120, 115, 110, 108... and finally even stops below 50day tripped. so many traders just wanna go back in hype up this impressive growth stock once again... the final hype. NVDA, with huge numbers and a leader position in big growth fields like...
As far as I can tell, very probable strong down impulse if it breaks from the current flag.
Please point out if I'm missing something indicating the contrary!
Nvidia might bounce on the 20 days moving average (green line), as in my opinion there is no reason for this stock to retest 100$ - Lot's of positive stuff coming from nvidia.
After not even closing 1 month negatively for the past 12 months, i don't expect it to do so now!
I'm bullish!
... for a 1.57/contract credit. (Earnings; High IVR/High IV).
I fiddled with various setups long enough ... . Here, I'm going out farther in time than I usually like to go with an earnings play in order to give myself time to be right.
Will look to manage to 50% max profit.
Metrics:
Probability of Profit: 63%
Max Profit: $157/contract
Max Loss:...
