NVIDIALong
Great that $NVDA held above 133.91
It is great that NVDA held above 133.91 and rise for today. For days NVDA has been beaten up and now per the diagram below if we break out of the areas of 140.30 tomorrow and 146.62. We will then see breakout to getting above ATH. The daily trend pattern that I've created for the next couple of days will need to see where "c" will form above or below direction.
Have to see other Semiconductor sectors of the following this week.
1) Thursday, Dec 13th after market close
AVGO will have earnings. In my opinion if the market sees their earnings results as positive in terms of direction and demand of Semiconductors then expects for this sector and NVDA to either trend higher or drop down.
2)
SMH is now getting back to its range of 247.00. We need to see if this holds and break above its range of 248.39. If we see 248.39 then expect its next resistance of 252.17.
For those who are impatient with this stock. Be calm, wait and see this price movement break out of a direction and make sure you have months of time to see your trades play out. Stick to your price targets of risk/reward/stop out.
In my opinion this is a LEAP/buying shares long term play in order to wait out this support and resistance trend for over 1 month. Have to see if this years Santa rally and early Jan 2025 will see this stock at new levels or continue to break down below 129.00 and its many supports.
NVDA held above 133.91 and rise for today. For days NVDA has been beaten up and now per the diagram below if we break out of the areas of 140.30 tomorrow and 146.62. We will then see breakout to getting above ATH. The daily trend pattern that I've created for the next couple of days will need to see where "c" will form above or below direction.Have to see other Semiconductor sectors of the following this week.
1) Thursday, Dec 13th after market close
AVGO will have earnings. In my opinion if the market sees their earnings results as positive in terms of direction and demand of Semiconductors then expects for this sector and NVDA to either trend higher or drop down.2)
SMH is now getting back to its range of 247.00. We need to see if this holds and break above its range of 248.39. If we see 248.39 then expect its next resistance of 252.17.For those who are impatient with this stock. Be calm, wait and see this price movement break out of a direction and make sure you have months of time to see your trades play out. Stick to your price targets of risk/reward/stop out.
In my opinion this is a LEAP/buying shares long term play in order to wait out this support and resistance trend for over 1 month. Have to see if this years Santa rally and early Jan 2025 will see this stock at new levels or continue to break down below 129.00 and its many supports.
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