I'm short $NVDA, aiming for considerable downside as $SPY starts a short term correction back to support in the 223 zone.
Valuation justifies taking any and all short opportunities in this stock, so, I'd reccomend taking a 0.5-1% risk position here and let it run for a month at least.
Good luck,
Ivan Labrie.
Strong move after breaking resistance today to finish above trend line. Will wait for another follow through tomorrow to consider adding onto current position
Looking for a relationship between earnings and price rallies I have added trend angles and earnings surprises at each announcement. The trend angle is placed from the price low price before the announcement towards the lowest price within the following month. The earnings surprise is printed in small print and the difference with the previous month in large print...
Market to enter strong bearish trend after long uptrend. 107-108 Resistance level, then bearish until 84.50, small bounce back before another bearish trend and hit support at 71-71.
NVDA is in consolidation mode right now. If it will break $105.00 then it will go up but i m more on shorting side since MACD is crossed and NVDA is making lower low and lower high in chart. Next week price target is around $98.00 if it cross $102.54 line.
... for a 1.09 credit. (High IVR/High IV).
Metrics:
Probability of Profit: 68%
Max Profit: $109/contract
Max Loss: $392/contract
Notes: Will look to manage at 50% max.
Nvidia has gone too far too fast. My background is in computer engineering and works for a company that does machine learning and AI. The current valuation is definitely, in my opinion, very extended. If NVDA's earning growth does not keep pace of the growth in market cap OR if the general NASDAQ becomes weak, this stock can be very vulnerable going into end of Q1...
