NVDA: First week of November

Dec 2, 2023

TPs in the chart.

A move to the low targets is unlikely because they are situated beyond -3 Standard Deviations with a 0% accumulation.

I do believe NVDA is in a unique situation here. It has topped probably ages ago but the rest of the market is keeping it from actually tanking. A bit of a psychology thing that goes like this:

"Well, since SPY and QQQ and MSFT are just going for ATHs, NVDA should go for triple or quadruple ATHs".

But that thinking is rarely the case in vastly over-extended stocks, absent some fundamental driver to really push it up (see MSFT, lol).

So if you like playing a range, NVDA is where it's at as we may continue to see this range-bound behaviour into January before it gets a decent pullback.

NOTE #1:
I don't mention it in the chart, but the accumulation OVER PH3 is actually around 44%.
Meaning its possible, if the rest of the market is bullish, for us to maybe slightly extend past PH3. But probably not, I think a move to PH1 is the most we will see here, potentially PH2. Potentially none, but you should see a threshold break to the upside and at least make it almost halfway to PH1 AT MINIMUM.



NOTE #2:
I will continue to update this idea with NVDA intra-day levels as this, BA and AMD have been my go-tos for day trades lately.

Dec 2, 2023

Note

Shit, I meant First week of DECEMBER!

Dec 4, 2023

Note

PLAN FOR NOV 4th Monday:




Thresholds and targets are in the chart above. Plot them out on your chart and look for the break in either way.

A note about NVDA, if we open below the thresholds, there is generally a 94% chance we will pop to re-test them.
Same goes if we open above, about a 92% chance we tank down to re-test them.
Keep this in mind!

Safe trades!

Dec 4, 2023

Note

LOL! RIght to the weekly low targets. Awesome!

Dec 6, 2023

Note

Now back down, 449 on the horizon?
I'm betting probably..

Dec 8, 2023

Note

Don't you love ranging behaviour, haha.

NVDA is currently doing a breakup pattern, I wouldn't be surprised for it to break above the threshold range tomorrow.

Looking for a long setup into tomorrow., but another rejeciton of the bullish condition will invalidate.

NVDA and TSLA have traded really nicely this week between these threshold and low levels. I approve.

Dec 8, 2023

Trade active

SO far so good:

Dec 8, 2023

Note

I got out here because we are technically at the daily high end of the range.
But if some momentum and conviction comes in, the next stop would be a range breakout and a move to PH1 on the week, which is in the primary chart above.
I am leaving 1 to trail just in case, but did 0 dtes here so need to be conservative with the trailing and profit taking.

Safe trades everyone!

Dec 9, 2023

Note

As expected, it was indeed a breakup pattern and we did indeed surpass the threshold.

Closing off this post but will post a new idea for NVDA into next week.

Have a great weekend everyone :-)!