NVIDIALong
A Rip Towards the Upside?
First and foremost, I have to admit I'm a little biased on this prediction because I have calls expiring 9/6, but I'm going to break down my thought process for this trade...
First thing I noticed was the 4H MACD starting to turn towards the upside. After earnings and a peak of 130, we slid all the way to the 104 region which equates to a 20% dip from the top...
Coupled with being close to oversold on the 4H RSI, I think we're due for a recovery of some sort. On a Friday? Why not?
The target would be the zone between 114-116 before we enter "the crossroads" again where it either holds or breaks through resistance, but truth be told, I don't care about that. I just want the rip roar recovery to get us there.
Problem is, I'm a little out of the money with the 111 calls so in order to see some kind of decent profit, I'm gonna need a big spike.
In the back of my mind I'm thinking, "Will Ms. Market react in a text-book kind of way?" Meaning, will she open and nosedive to fake-out call option holders just to then run it up 5-7%?
I guess we'll see. I'm in this for about $650 which I can handle losing, but I'm betting against the trend, so we'll see...
First thing I noticed was the 4H MACD starting to turn towards the upside. After earnings and a peak of 130, we slid all the way to the 104 region which equates to a 20% dip from the top...
Coupled with being close to oversold on the 4H RSI, I think we're due for a recovery of some sort. On a Friday? Why not?
The target would be the zone between 114-116 before we enter "the crossroads" again where it either holds or breaks through resistance, but truth be told, I don't care about that. I just want the rip roar recovery to get us there.
Problem is, I'm a little out of the money with the 111 calls so in order to see some kind of decent profit, I'm gonna need a big spike.
In the back of my mind I'm thinking, "Will Ms. Market react in a text-book kind of way?" Meaning, will she open and nosedive to fake-out call option holders just to then run it up 5-7%?
I guess we'll see. I'm in this for about $650 which I can handle losing, but I'm betting against the trend, so we'll see...
Note
On a side note, Ms. Market had some solid resistance at 104... She may fake-out at the 104 marker and make a "rip your face off" recovery. Note
Looking like we had a pre-market pop and drop, a little bull trap. Take a small L, going to keep it pushing
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.